SK Networks Transforms into Investment Company, Establishes AI Research Center in Silicon Valley

Launch of Phoenix Lab for Talent at Stanford University

SK Networks announced on the 24th that it has newly established an artificial intelligence (AI) technology development organization called Phoenix Lab in Silicon Valley, USA.

Phoenix Lab was created according to the management's vision to become an AI company with the goal of "realizing the civilization of humanity through AI democratization." It aims to internalize AI capabilities. The team consists of four local personnel, including researchers from Stanford University and those currently pursuing master's and bachelor's degrees. The company explained that they have experience leading several AI projects.

Going forward, Phoenix Lab plans to take the lead in developing AI products or new solutions in collaboration with SK Networks or its subsidiaries. They will promote not only AI-related technology development but also AI service verification, market testing, and AI internalization linked with global technologies.

Based on Phoenix Lab's specialized capabilities and local network, SK Networks plans to continuously introduce AI-based services with global competitiveness. At the launch ceremony held on the same day, Choi Seong-hwan, Head of Business at SK Networks, said, "Phoenix Lab will serve as an innovation hub with world-class competitiveness, conducting future-leading AI technology research as well as developing business models and practical business applications." He added, "We will strengthen support so that Phoenix Lab can establish a strong presence in the US and also play a role in promoting AI advancement across various companies."

The company has invested in AI-based startups and tractor unmanned automation solution companies, starting with a hyperscale data center fund in the US in 2020. It also acquired a domestic data management company last year. At an investor briefing held in February, the company announced plans to integrate AI technology into its major businesses to triple operating profit by the year after next.

During this business trip to the US, Choi Seong-hwan attended the Phoenix Lab launch ceremony and met with local partner companies and leading AI technology firms to discuss cooperation plans.