SK Networks
Founded in 1953 as Sunkyong Textiles, the precursor of SK Group, SK networks engages in a diverse range of businesses and investments, including ICT device distribution, communications infrastructure and IT solutions, global trading, automotive repair and parts, automobile and home appliance rental service, lifestyle business that includes hotel and resorts and seed investments in promising global businesses.
Business Highlights
SK networks is Korea’s top mobile device distributor and sells approximately 5.5 million mobile phone units per year in Korea. The transaction volume of used mobile phones through ‘MINTIT’, the company’s business for recycling used mobile phones, has exceeded one million, and SpeedMate has established itself as an undisputed No. 1 brand of automotive aftermarket service. In global trading, SK networks is focusing on trading chemicals based on its outstanding sourcing capabilities and differentiation from its competitors. As the leader in Korea’s hotel business, Walkerhill Hotels & Resorts offers top-class experience in urban getaways in nature, cultural activities, and business events through the operation of Walkerhill Seoul, Vista Walkerhill Seoul, and the capsule hotel Darakhyu.
New Growth Engines
SK networks is driving its transformation into a business operation-based investment company. The company aims to create a virtuous cycle between investment and business operation through proactive investments and development of new businesses with a focus on promising sectors such as blockchain. Starting with its participation in Klaytn GC in 2019, SK networks has preemptively invested in the blockchain sector that will be a key driver of future growth, targeting blockchain-focused VC Hashed and blockchain tech startup Block Odyssey. We plan to build a blockchain-empowered future growth portfolio, leveraging the extensive business network built on years of investment insights.
July 30, 2024