South Korean SK Group signs MoU with Malaysia

February 23, 2018 | By | Reply More

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KUALA LUMPUR: South Korean-based SK Group has signed a memorandum of understanding with Malaysia to invest in the latter to create blue ocean business opportunities in key sectors.

The second largest conglomerate by market capitalisation in South Korea, has “bigger aspirations” for its regional head office in Malaysia, to be set up within four months, than its office in China.

Prime Minister Datuk Seri Najib Razak said SK Group’s regional office in Malaysia, which will cover Asean, India and Middle East, marks the beginning of creative collaboration in ICT and 5G, oil and gas, green technology and urban development.

Prime Minister Datuk Seri Najib Razak said SK Group’s regional office in Malaysia, which will cover Asean, India and Middle East, marks the beginning of creative collaboration in ICT and 5G, oil and gas, green technology and urban development. Pic by NSTP/MOHAMAD SHAHRIL BADRI SAALI

“Malaysia will be at the centre of SK Group’s business expansion ambitions in these regions, which is a sign of great confidence they have in our country.”

The group will also strive to develop highly skilled Malaysian talents by training and grooming future Malaysian business leaders,” he said at the signing ceremony here today.

SK Group chairman Chey Tae-won said it has bigger aspirations for Malaysia, which will see its investments into the country, in the years ahead, potentially exceeding US$17 billion, already invested in China.

The second MoU signed between Malaysian government-owned Cyberview Sdn Bhd and SK Group concerns the development of Blue Ocean Smart Cities in Malaysia, starting with Cyberjaya.

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