SK Group Business Units to Create KRW 1,000 Billion ICT Fund

SK Telecom, SK Square and SK hynix to create investment fund worth more than KRW 1000 billion (US $ 835.1 million), attracting capital from foreign investors, to inject them into projects innovative around AI, metaverse, blockchain and semiconductors.

Through these investment activities, the three companies hope to stay ahead of the trend of convergence within the ICT industry and discover unicorns that can change the industrial landscape, which will lead to valuable business synergies. .

The three SK Group companies announced the fund at the launch of their new “Alliance SK ICT” in CES 2022 as they strive to enter global markets in 5G, AI and semiconductor technologies

U.S. entity targets AI semiconductor market

The first on the agenda of the new SK ICT alliance is the creation of SAPEON Inc. in the United States to introduce the AI ​​chip from SK Telecom. The new US-based company will serve as an outpost to expand SKT’s AI semiconductor business into the global market by attracting large US-based technology companies as major customers.

It will also secure an advantage by attracting experts in semiconductor development and attracting outside investors. In addition, as a subsidiary of SAPEON Inc., SAPEON Korea will take over the activities in Korea and the Asian region.

Ryu Young-sang, CEO, SK Telecom

“By proactively responding to the changes happening in the areas of AI, metaverse and 5G, we will prepare for the next decade,” said Ryu Young-sang, CEO of SK Telecom.

SK Telecom plans to lead the development of technologies related to SAPEON by leveraging its R&D capabilities and accumulated service experience in 5G and AI. In the medium and long term, the company will extend its range of SAPEON models by developing AI chips dedicated to data centers and autonomous driving.

SK Telecom will also promote synergies between its AI semiconductor and SK hynix semiconductor memory technologies, while attracting strategic and financial investors in cooperation with SK Square.

Predicting that the convergence of AI and metaverse will define the future world of ICT, SK Telecom plans to innovate its three key services, T Universe, Ifland and AI Agent, on an accelerated basis. Moreover, it will also introduce new services by adding connected intelligence to future devices such as UAM planes, self-driving cars and robots.

SK hynix in talks with Qualcomm

(LR) Cristiano Amon, President and CEO of Qualcomm met Park Jung-ho, VP and CEO of SK Square and SK hynix, at CES 2022.

Meanwhile, SK hynix, the world’s second largest memory chip maker, and Qualcomm, the global leader in wireless technology innovation, held talks regarding the collaboration on the development of high-speed PC memory and data center applications.

SKT and Qualcomm discussed cooperation in 5G business areas, including the metaverse and the smart factory.

“With the intensification of competition in the global ICT market, cooperation is no longer a matter of choice but an absolute necessity,” said Park Jung-ho, vice president and CEO of SK Square and SK hynix. “All of SK’s ICT affiliates will lead innovations by pursuing cooperation that transcends all national borders and all industries.

Previous Bristol business park sold to property investment firm for £ 30million
Next Government to launch independent entrepreneurship program