SK Group to expand investments in China

SK Group, South Korea's second-largest group in terms of market value, will beef up its investments in the Chinese market, said the CEO of SK China on Thursday.

With China accounting for over half the firm's total overseas investments, Jerry Wu, CEO of SK China, said that it will continue to expand its investments in China and is confident of future growth in the market.

"Equity investments will be a major investment strategy in the nation this year with artificial intelligence, autonomous driving and new energy vehicles being top investment areas," said Wu at the Boao Forum for Asia, which began Thursday.

SK Group, with business spanning from information technology to energy, entered the Chinese market in the 1990s.

"The Chinese market is 'important' to SK and is playing an increasingly important role with the burgeoning development of cutting-edge technologies," said Wu.

According to him, China has advanced at an equal pace with the United States in 5G development while the nation's autonomous driving has also gained momentum worldwide.

Compared with its rivals in China, Wu said that SK has some natural advantages in that South Korea and China are good neighbors, sharing the same values and similar cultures.

"Also, both countries hold an open attitude of mutual development," he said, adding that SK is also willing to collaborate with Chinese firms in technology for win-win results.