Trade & Investment

S. Korea's SK Group seeks cooperation with SOEs in Xiamen

Updated: 2014-03-25
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The South Korean-based SK Group and six state-owned enterprises in Xiamen jointly attended a formal symposium on March 21st to exchange and communicate on their cooperation in a local government building.
These six state-owned enterprises included C&D Group, Xiamen ITG Holding Co., Ltd., CCRE Group, Xiamen Rail Transit Group Limited Corporation, Jin Yuan Group and Xiamen Xiangyu Group.

The symposium was recommended by SK Group, the third largest conglomerate (chaebol) in South Korea. Founded in 1953, the group covers the fields of energy industry, telecom, ocean shipping, capital construction and financial investment and more. It ranked 57th in the 2013 Fortune Global 500, with an annual sales revenue of US $106.3 billion.

As of now, the group has invested more than RMB 50 billion in China. At the symposium, SK Group expressed their willingness to cooperate with the top state-owned enterprises in Xiamen.

"Xiamen is blessed with its unique locative advantage and good economic foundation, SK hopes to launch some pilot cooperative projects here to achieve a win-win development,” said Li Xinming, the Senior Vice President of SK China.

SK Group has launched two projects in the coastal city of Xiamen and will develop more business in the information communication industry based on the city’s construction of a “Smart City”.

SK Group’s cooperation intention has triggered strong popular interest amongst the state-owned enterprises in Xiamen. All the participants are attempting to grasp the rare opportunity to promote the internationalization of local state-owned enterprises.

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