South Korea’s SK Group Is Mulling To Sell Off Some Of Its Southeast Asian Assets

News Asia 360

Korea Economic Daily reported on Sunday citing SK Group, one of the largest corporations in the country, is mulling to dispose of a number of its Southeast Asian assets and reinvest in other businesses in the region. And one of the countries it is looking into seriously is Vietnam.

Samsung Electronics has made Vietnam its hub for its global smartphone. Vietnam-South Korean relationship recently was upgraded into a “comprehensive strategic partnership”, which the former has so far established only with Russia, China and India.

The decision on which assets to be disposed of will be dependent on the offers by the buyers. The proceeds will then be reinvested in a number of identified local companies. According to a source, despite the selling-off, SK Group is planning to grow its team in Vietnam. Among its strategic investments in Vietnam is Vingroup. SK Group at the moment is among the largest investor in the conglomerate, as per Refinitiv.

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