SEOUL, July 21 (Korea Bizwire) – Chey Tae-won, chairman of South Korea’s SK Group, recently met with OpenAI chief executive officer (CEO) Sam Altman in San Francisco to discuss potential collaboration on artificial intelligence (AI) infrastructure and broader strategic partnerships, according to industry sources Monday. Chey visited OpenAI’s headquarters in San Francisco in early July [...]
SEOUL, June 19 (Korea Bizwire) — SK Telecom Co., South Korea’s leading mobile carrier, said Thursday it has nearly completed replacing universal subscriber identity module (USIM) chips for its entire user base of 25 million, about two months after it said sensitive USIM data may have been leaked due to an unidentified cyberattack on its [...]
SEOUL, June 16 (Korea Bizwire) — SK Group, a South Korean chip-to-construction conglomerate, said Monday it plans to build the country’s largest artificial intelligence (AI) data center in partnership with Amazon Web Services, Inc. (AWS). The two companies are expected to launch the project later this month and hold a groundbreaking ceremony in August, according [...]
SEOUL, May 28 (Korea Bizwire) — South Korea’s energy giant SK Innovation Co. said Wednesday that its President Choo Hyeong-wook has been appointed the new chief executive officer (CEO) as part of a leadership reshuffle. Choo, 51, will succeed Park Sang-kyu, who has offered to resign from the post citing personal reasons, according to SK [...]
SEOUL, May 20 (Korea Bizwire) — A growing wave of carve-out mergers and acquisitions (M&A)—in which large corporations sell off non-core business units—is reshaping the South Korean dealmaking landscape, with private equity (PE) firms emerging as key players. According to a recent report by the Korea Capital Market Institute, domestic conglomerates are accelerating portfolio streamlining in response [...]
SEOUL, April 30 (Korea Bizwire) — SK Innovation Co., South Korea’s leading refiner, said Wednesday its net loss widened in the first quarter from a year earlier despite a sharp increase in sales, due to falling oil prices and declining refining margins. Net loss deepened to 125.6 billion won (US$88.4 million) in the three months [...]
SEOUL, April 10 (Korea Bizwire) — SK Group Chairman Chey Tae-won has visited Taiwan, and met with the chief of Taiwan Semiconductor Manufacturing Co. (TSMC) and officials from other semiconductor companies to discuss ways of strengthening cooperation in the semiconductor sector, sources said Thursday. During the meeting held earlier this week, Chey and TSMC CEO [...]
SEOUL, Jan. 7 (Korea Bizwire) — Chey Tae-won, Chairman of the Korea Chamber of Commerce and Industry and SK Group, highlighted the pressing challenges of global economic shifts during the “2025 Seoul New Year’s Meeting” on January 6. Speaking at the Seoul Chamber of Commerce in Jung-gu, he identified three major disruptions—U.S.-led tariff hikes, inflationary [...]
SEOUL, Jan. 3 (Korea Bizwire) — In their New Year’s messages, chief executives of South Korea’s three major telecommunications companies and leading platform and gaming firms highlighted plans to expand artificial intelligence operations and boost revenue generation in 2025. The heads of the telecom companies unanimously identified AI achievements as their primary objective for the coming [...]
ULSAN, South Korea, Jan. 1 (Korea Bizwire) — A striking media art installation that captivated visitors at CES 2024 in Las Vegas has found a permanent home in Ulsan’s petrochemical complex. Renamed the Magic Sphere, the 6-meter-wide LED sculpture, formerly known as the “Wonder Globe,” was unveiled during a lighting ceremony at SK Innovation’s Ulsan Complex [...]