Since its establishment in 2010, SK China has been developing a number of business models in the fields of real estate, alternative energy, and car rental services, while embracing localization and collaboration. (Image: Yonhap)
SEOUL, May 16 (Korea Bizwire) — SK Group has appointed Jerry Wu, a former financial expert in investment banking, as the new CEO of SK China as part of a major shake-up to revamp its business strategy amid Chinese economic sanctions and anti-South Korean sentiment over the deployment of a THAAD missile defense system, the company announced yesterday.
Wu was born in Jilin Province in China and has previously worked at the National Development and Reform Commission in charge of foreign trade as well as Goldman Sachs China.
“Based on his understanding of South Korean businesses as well as experience in the investment banking industry, new CEO Wu will launch a variety of new business ventures and make investments,” one SK Group official said.
Since its establishment in 2010, SK China has been developing a number of business models in the fields of real estate, alternative energy, and car rental services, while embracing localization and collaboration.
In the wake of a recent political conflict between South Korea and China which has proven costly in the economic sector over time, the chairman of SK Group, Chey Tae-won is attending this year’s Shanghai Forum later this month as part of all-out efforts to overcome the economic slump facing many South Korean companies in China, similar to what Lotte was hit with earlier this year.
Ashley Song (ashley@koreabizwire.com)
