SK Networks Partners with Malaysia's Sunway Group for "AI Collaboration"

Malay 20s Group... Real Estate, Medical, Hotel Businesses
Strengthening Local Collaboration Centered on AI

SK Networks is strengthening its cooperation by partnering with Sunway Group, which is advancing businesses in real estate, healthcare, and hotel sectors in Malaysia.

On the 30th, SK Networks announced that it signed a memorandum of understanding with Sunway Group on the 22nd to collaborate in various business areas, including artificial intelligence (AI).

Founded in 1974, Sunway Group is one of Malaysia's top 20 conglomerates, operating businesses in 13 sectors across 50 countries worldwide. It specializes in construction and real estate, including 'Sunway City Kuala Lumpur,' which attracts over 42 million visitors annually. The group owns the largest private healthcare company in Malaysia and also operates businesses such as Sunway Hotels & Resorts.

The two companies plan to collaborate primarily in the AI field in both Korea and Malaysia and consider jointly entering third countries. They are expected to cooperate on AI new products being developed by SK Magic and implement AI systems within Sunway Group.

Additionally, they will explore establishing a joint venture between SK Magic, a subsidiary of SK Networks, and Sunway in Malaysia, as well as options for equity swaps between SK Networks and Sunway.

Evan Chia, CEO of Sunway Digital & Strategic Investments, said, "Collaboration with SK Networks will help Sunway's digital transformation."

SK Networks stated, "We will derive collaboration plans centered on the AI sector and achieve results including expanding local business in Malaysia. We will support smooth progress of business for the headquarters and subsidiaries and cooperate to discover new business models."

On the 22nd, Choi Seonghwan, President of Business at SK Networks (right), signed a business agreement and took a commemorative photo with Evan Chia, CEO of Sunway Digital & Strategic Investments, at the SK Networks headquarters in Jongno-gu, Seoul. (Photo by SK Networks)