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Former U.K. Prime Minister visits Korea, discusses cooperation with SK Networks President

Published: 21 May. 2025, 15:23 Updated: 22 May. 2025, 08:23

SHIN MIN-HEE
[email protected]

SK Networks President Choi Sung-hwan, left, and former U.K. Prime Minister Rishi Sunak have discussed plans for bilateral cooperation and business partnerships in a meeting on May 20. [SK NETWORKS]

SK Networks President Choi Sung-hwan and former U.K. Prime Minister Rishi Sunak discussed plans for bilateral cooperation and business partnerships between Korea and Britain in a meeting on Tuesday, the company said Wednesday.

The meeting was held at the Shilla Hotel in Jung District, central Seoul, where the two shared their insights on global trends and measures to strengthen technological cooperation on AI.

Choi’s meeting with Sunak during his stay in Korea for a conference is in line with the company’s global networking strategy, according to SK Networks.

The global economy was another key agenda during the meeting. Choi reportedly told Sunak that he “hopes [SK Networks’] AI business will enter European markets including the U.K.”

SK Group has been mobilizing efforts to grow the AI business. Last month, it held a showcase event for Namuh X, a robotics brand that utilizes the AI strategies of SK Networks and the resources of home appliance company SK Magic.

Since 2020, SK Networks founded the U.S. investment firm Hico Capital, now SK Networks Americas, and has initiated partnerships with and sustained investments in global tech companies through Hicosystem, a human network comprised of some 450 experts in business, investment, technology, economy and law.

An AI pharama startup named PhnyX Lab was also represented at the meeting. The company developed the pharmaceutical solution Cherion, made from modular RAG, last year and is seeking to develop tailor-made models for different partners.

“AI holds the key to transforming the future of drug development,” Sunak said. “It promises new levels of speed and precision that could help hundreds of millions of patients around the world. PhnyX Lab’s Cherion looks like the kind of technology that has the potential to play an important part in this revolution.”

BY SHIN MIN-HEE [[email protected]]