SK plans new head office in Southeast Asia

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SK plans new head office in Southeast Asia

SK Group plans to set up a regional head office in Southeast Asia to bolster business there, the company said Thursday.

While details regarding the regional office are yet to be finalized, it is most likely to be in Malaysia, according to a source knowledgeable of the matter. The regional office will operate independently using its own resources and capabilities and oversee SK businesses in Southeast Asia.

As Southeast Asian countries increasingly become an attractive market for Korean companies, SK Chairman Chey Tae-won has been looking for collaborative business opportunities there.

To set up a more concrete plan to tackle Southeast Asian markets, the top management of SK Group including Chey and the heads of core affiliates including SK innovation and SK Telecom left for Kuala Lumpur, Malaysia on Thursday.

While in Malaysia, they will craft SK’s long-term business strategy catered to the fast-growing Southeast Asian markets. Details of how to set up a regional head office will be one of the major topics discussed.

Chey has been focusing on business cooperation with Southeast Asian countries especially Malaysia, Indonesia and Vietnam, which have been showing steep economic growth rates of more than 5 percent, according to SK.

Among SK’s affiliates, oil refiner SK Innovation has a chance of exploiting the abundant natural resources in Southeast Asia like oil and gas while SK Telecom may take part in the area’s efforts to bolster information communication technologies like artificial intelligence, Internet of Things and big data.

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