SK affiliates establish ICT investment fund - Mobile World Live

SK affiliates establish ICT investment fund

10 JAN 2022

Three SK Group affiliates formed an ICT technology development and investment body with plans to attract capital from overseas financial investors this year and manage a KRW1 trillion ($835.1 million) fund which will be injected into new projects covering AI, blockchain, chips and metaverse.

In a statement during CES 2022, SK Group revealed its semiconductor, telecoms and investment units, SK Hynix, SK Telecom (SKT) and SK Square, will first look to promote Sepeon-branded AI chips by establishing a unit in the US.

SKT noted discussions are underway with major global investors.

Park Jung-ho, vice chairman and CEO of SK Square and SK Hynix (pictured), said the SK ICT Alliance will “achieve new innovations and make a big leap forward in the global market”.

SKT added the alliance will invest in companies developing innovative technologies, with an eye to acquiring those with promising product portfolios.

Investment decisions and R&D cooperation will be guided by a Synergy Council chaired by Park, with SKT CEO Ryu Young-sang and SK Hynix CEO Lee Seok-Hee on the panel.

Executives from three SK affiliates last week talked ICT cooperation with Qualcomm.

Back

Author

Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

Read more

Related

Tags