SK Group unveils 30 mln USD investment for VN’s innovation centre

SK Group announces 30 mln USD investment for Vietnam’s innovation centre

SK Group, the third largest conglomerate in the Republic of Korea, on June 9 announced its plan to fund 30 million USD for Vietnam’s National Innovation Centre (NIC).

Sunday, June 09, 2019 15:46

SK Group announces 30 mln USD investment for Vietnam’s innovation centre ảnh 1

SK Group plans to fund 30 million USD for Vietnam’s National Innovation Centre (NIC).
(Photo: pulsenews.co.kr)

Hanoi (VNA) – SKGroup, the third largest conglomerate in the Republic of Korea, on June 9announced its plan to fund 30 million USD for Vietnam’s National InnovationCentre (NIC).

SK Group Chairman CheyTae-won reached the agreement while making a three-day visit to Vietnam lastweek.

NIC, planned to be developedin an industrial park in Hanoi, will host some 40 big technology companies and150 startups, plus 15 venture investment funds. Its construction is expected tobe completed by 2020.

Last month, the SK Groupsaid it planned to purchase a 6.1 percent stake of Vietnam’s real estate-retail-techgiant Vingroup at the price of 1 billion USD. In 2018, the group spent some 470million USD acquiring 110 million shares in Masan Group, the second largestprivate firm in Vietnam.

In August 2018, its fiveaffiliates, including SK Holdings Co. and SK Innovation Co., established ajoint venture named SK South East Asia Investment Pte. Ltd. in Vietnam tolaunch promising business opportunities in the burgeoning Southeast Asianmarket.

Chey said that his group will continue practical investment to create practicalvalue for the Vietnamese people.

TheKorean group operates in the fields of energy, telecommunications, high-techcomponents, logistics and services. It has been present in more than 40countries and territories.-VNA

VNA

#SK Group #Republic of Korea #fund 30 million USD #Vietnam’s National Innovation Centre #40 big technology companies #150 startups #Vingroup #SK Holdings Co. #SK Innovation Co. #SK South East Asia Investment Pte. Ltd. #Vietnam News Agency #Vietnamplus Korea (RoK)

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