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Biz News Korea(Eng)
SK Chief to fly to China amid THAAD row
- Collected
- 2017.05.12
- Distributed
- 2017.05.15
- Source
- Go Direct
According to multiple industry sources Friday, Chey will fly to Shanghai to attend Shanghai Forum held from May 26 - 29 and give a keynote speech at the international economic forum hosted by Fudan University and sponsored by the Korea Foundation for Advanced Studies, which was established by SK Group. Chey has regularly attended this forum and Beijing Forum - also hosted by the Korea Foundation for Advanced Studies - that are annual events as an executive director of the entities.
But as his trip to China comes after the group’s refining and energy solutions unit SK Innovation Co.’s electric vehicle battery pack making factory in China was forced to halt its production early this year in the aftermath of the trade row between the two neighboring countries over Seoul’s deployment of the U.S. antimissile system, he is expected to meet various local business partners and counterparts as part of efforts to smoothen things for SK Group’s Chinese businesses.
SK Group has been making strenuous efforts to expand its presence in China. SK Innovation even relocated headquarters of its subsidiary SK Global Chemical Co. to Shanghai this year. SK Global Chemical’s joint venture with China’s Sinopec since 2013, Wuhan Ethylene Corp., has reportedly posted record-high earnings in the first three months of the year. Industry observers keep an eye on whether Chey’s visit to China would find a breakthrough for the group’s Chinese businesses.
By Jung Wook
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]