SK Group Considers 110 Billion KRW Investment in Vietnamese Pharmacy Chain Pharmacity

[Asia Economy Reporter Lee Seon-ae] SK Group is considering an investment of approximately 110 billion KRW in the Vietnamese pharmacy chain Pharmacity.

SK Group stated on the 18th, "We are reviewing various business investments, including the healthcare sector such as Pharmacity, to expand ESG (Environmental, Social, and Governance) in the Vietnamese market," adding, "Pharmacity is one of the investment targets, but nothing has been finalized yet."

Pharmacity is the largest pharmacy chain in Vietnam with over 500 stores nationwide and is reportedly planning to expand the number of stores to around 1,000 by the end of this year.

SK Group is advancing its entry into the Vietnamese market through SK Southeast Asia Investment Corporation, established in 2018. In 2019, it made a full-scale investment by acquiring a 6.1% stake in Vingroup, a private company also known as the "Samsung of Vietnam."

Last year, the Southeast Asia Investment Corporation acquired a 24.9% stake in the Vietnamese pharmaceutical company Imexpharm and plans to increase its shareholding to 29.2% through additional acquisitions. In April this year, it signed a contract to purchase a 16.3% stake in VinCommerce, the distribution subsidiary of the Vietnamese Masan Group, for 410 million USD (approximately 460 billion KRW).