April 27, 2024
Automobiles
SK Group turns to Middle East for new biz model
[THE INVESTOR] SK Group will cooperate with oil producers of the Middle East to find new business models, the conglomerate said on Nov. 24.
Group Chairman Chey Tae-won, who is visiting the region this week, met with CEOs of sovereign funds, oil companies and other partner firms, and discussed areas of new cooperation, according to company officials.
In talks on Nov. 23 (local time) with the chiefs of UAE’s sovereign wealth fund Mubadala Development and oil company Mubadala Petroleum in Abu Dhabi, Chey proposed that they pursue new joint businesses in areas such as technology, capital and marketing that go beyond resource development, SK officials said.
“The persisting low oil prices demand fundamental changes and innovation in the energy and petrochemical industries,” Chey was quoted as saying.
The South Korean conglomerate also wants to work together to develop resources in third countries, such as nations in Southeast Asia.
(theinvestor@heraldcorp.com)
Group Chairman Chey Tae-won, who is visiting the region this week, met with CEOs of sovereign funds, oil companies and other partner firms, and discussed areas of new cooperation, according to company officials.
In talks on Nov. 23 (local time) with the chiefs of UAE’s sovereign wealth fund Mubadala Development and oil company Mubadala Petroleum in Abu Dhabi, Chey proposed that they pursue new joint businesses in areas such as technology, capital and marketing that go beyond resource development, SK officials said.
“The persisting low oil prices demand fundamental changes and innovation in the energy and petrochemical industries,” Chey was quoted as saying.
The South Korean conglomerate also wants to work together to develop resources in third countries, such as nations in Southeast Asia.
(theinvestor@heraldcorp.com)
