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SK Group to Reorganize into Technology Oriented Business Structure

Summary: SK Group South Korea s top five conglomerates has vowed to concentrate on the Group s research and development capacity to the greatest extent in order to explore new growth driving business areas which can lead the global market SK Group pronounced its ambition for technology oriented business reorganization during the three day CEO Seminar which took place in SK Tower Beijing where CEOs of subsidiaries discussed agendas for sustainable growth including bolstering essential competitiveness new growth strategy and globalization strategy SK Group which has solidified a ground to emerge as a global company back in 1996 with its world s first Code division multiple access CDMA commercialization is to use its research development R D capabilities with a plan to further grow out as a major global company by developing innovative new technologies that can be appreciated in the global market While rivals are narrowing the gap with us in the domestic market SK Group is challenged by emerging new economies and a technology integration trend in the overseas market and continued Innovative schemes represented by a technology centered growth strategy is craved to overcome the setbacks we are facing at home and abroad emphasized the Group Chairman Chey Tae won We have to desert supplier attitude reselling business models succeeded in South Korea to the Chinese market when approaching businesses in China User attitude which constantly seeks new business models from complete Chinese perspective and makes efforts in segmenting and advancing potential business models and products is a must to take initiative in China market stressed the Chairman SK Group earlier promulgated its plan to invest 5 7 trillion won $4 8 billion in R D starting from this year until 2012 in order to discover next generation growth engines with tremendous potential for long term national development The Group will shortly finalize each subsidiary s aspiration for next generation business models based on outcomes of the recent CEO seminar Written by Gyung do Kim Ye sol Yi edited by Jae yoon Jung ⓒ Maeil Business Newspaper mk co kr All rights reserved SK Group South Korea s top five conglomerates has vowed to concentrate on the Group s research and development capacity to the greatest extent in order to explore new growth driving business areas which can lead the global market SK Group pronounced its ambition for technology oriented business reorganization during the three day CEO Seminar which took place in SK Tower Beijing where CEOs of subsidiaries discussed agendas for sustainable growth including bolstering essential competitiveness new growth strategy and globalization strategy SK Group which has solidified a ground to emerge as a global company back in 1996 with its world s first Code division multiple access CDMA commercialization is to use its research development R D capabilities with a plan to further grow out as a major global company by developing innovative new technologies that can be appreciated in the global market While rivals are narrowing the gap with us in the domestic market SK Group is challenged by emerging new economies and a technology integration trend in the overseas market and continued Innovative schemes represented by a technology centered growth strategy is craved to overcome the setbacks we are facing at home and abroad emphasized the Group Chairman Chey Tae won We have to desert supplier attitude reselling business models succeeded in South Korea to the Chinese market when approaching businesses in China User attitude which constantly seeks new business models from complete Chinese perspective and makes efforts in segmenting and advancing potential business models and products is a must to take initiative in China market stressed the Chairman SK Group earlier promulgated its plan to invest 5 7 trillion won $4 8 billion in R D starting from this year until 2012 in order to discover next generation growth engines with tremendous potential for long term national development The Group will shortly finalize each subsidiary s aspiration for next generation business models based on outcomes of the recent CEO seminar Written by Gyung do Kim Ye sol Yi edited by Jae yoon Jung ⓒ Maeil Business Newspaper mk co kr All rights reserved

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