SK to Pursue Sale of Investment Stakes in Vietnam's Masan and Vingroup

SK Group has begun the process of selling its stakes in Vietnam's Masan and Vingroup. As SK Group is currently reviewing and optimizing its major business companies, it is recovering some of its overseas investment funds to improve cash flow.

According to SK Group on the 20th, the group's holding company SK Inc. recently expressed its intention to exercise a put option (the right to sell shares) to Masan Group. Negotiations between the two parties regarding the sale of shares are still ongoing. The amount invested in 2018 was $450 million (approximately 530 billion KRW at the time), and SK plans to recover the principal and interest by the end of this year. Masan Group is the second-largest distribution company in Vietnam's business sector.

SK Group is also negotiating the sale of its stake in Vingroup. In 2019, SK Group acquired a 6.1% stake in Vingroup for $1 billion (approximately 1.18 trillion KRW at the exchange rate at that time).

An SK representative stated, "Even if SK Group sells its stakes in holding companies such as Masan Group and Vingroup, it will not recover investment funds from individual business companies," adding, "The partnership with Vietnamese companies will continue to be maintained in the future."