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SK Group Accelerates China Insider Strategy through Cooperation in Smart Innovation
SK Chairman Chey Attends 2019 Smart China Expo
SK Group Accelerates China Insider Strategy through Cooperation in Smart Innovation
  • By Jung Min-hee
  • August 27, 2019, 14:09
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SK Group chairman Chey Tae-won (center) takes a tour of the exhibition halls of global IT companies at the 2019 Smart China Expo at the International Expo Center in Chongqing, China on Aug. 26.

SK Group chairman Chey Tae-won visited China on Aug. 26 to discuss smart technology-based cooperation with Chinese government officials.

Chey has been seeking business opportunities in China under the group’s “China Insider” strategy, which is aimed at building a second SK Group in China. The group has been pursuing this strategy for more than 10 years.

Chey delivered a keynote speech during an opening ceremony of the 2019 Smart China Expo, which was held at the International Expo Center in Chongqing, China, on Aug. 26. He emphasized that smart technology innovations can maximize social value creation and enhance sustainability.

The annual expo was launched last year by the Chongqing Municipal People’s Government, the Ministry of Science and Technology of the PRC, the Ministry of Industry and Information Technology of the PRC, Chinese Academy of Sciences, Chinese Academy of Engineering, and China Association for Science and Technology. The event is aimed at fostering Chongqing as a hub for big data and smart technology in China. This year’s expo runs from Aug. 26 to 29.

The opening ceremony drew about 1,900 VIPs. They included high-ranking government officials including Liu He, vice premier of the People’s Republic of China, Chen Miner, Communist Party secretary of Chongqing and Tang Liangzhi, mayor of Chongqing, and top executives from global companies including Jack Ma, founder of Alibaba, Ma Huateng, chairman of Tentcent and Li Yanhong, chairman of Baidu. After delivering a keynote address, Chey toured the Expo venue and looked around exhibition booths of global IT companies.

In particular, Chen Miner, Communist Party secretary of Chongqing, is a longtime friend of Chey. Tang Liangzhi, mayor of Chongqing had a meeting with Chey during his visit to Korea in May.

Chey was appointed as an advisor on international economy for Chongqing in 2011 and is active for the city for the ninth year this year. SK Hynix established a semiconductor back-end process line in Chongqing in 2014, and is now close to completing the second plant in the city.

Meanwhile, SK Group has been carrying out various projects in accordance with the China Insider strategy, which was proposed by Chey in 2006. In April, the company acquired a local oil refinery and is in the process of expanding its battery plant for electric cars.