Latest news with #SKNetworks
Korea Herald
23-05-2025
- Business
- Korea Herald
SK Networks President Sunghwan Choi encounters former UK Prime Minister
SEOUL, South Korea, May 21, 2025 /PRNewswire/ -- SK Networks, aiming to evolve into an "AI-focused business holding company", is intensifying its initiatives to enhance collaboration and expand its operations through a global network. In this context, Sunghwan Choi, President & COO of SK Networks, who has been steering the tech-focused AI operations of the headquarters and its subsidiaries, reportedly met with former UK Prime Minister Sunak to explore methods for improving exchanges and corporate collaboration between the two nations. As stated by company representatives, this Tuesday at The Shilla Seoul, President Choi and former Prime Minister Sunak held a breakfast meeting to exchange global trends and discuss AI and other technological collaborations between nations and corporations. SK Networks founded Hico Capital (now SK Networks Americas) in Silicon Valley, USA, in 2020. The company has been concentrating on global investments in and partnerships with technology firms centered around Hicosystem, the human network associated with future expansion sectors. The opportunity for an unexpected in-person meeting between Rishi Sunak, who visited South Korea for an international conference, and Sunghwan Choi is believed to stem from this network. During this meeting, the pair shared perspectives on the current state of the global economy. They also discussed approaches to enhance relations between the two countries from the viewpoints of a politician and a business leader, as well as the possibilities and examples of AI collaboration at both national and corporate levels. In this context, President Choi presented innovative AI-based cases and global strategies from SK Group and SK Networks, expressing optimism that, in line with current trends, the company's AI endeavors would grow in the UK and across Europe, aiding the advancement of human civilization. The industry has high expectations for the future potential of SK Networks, which is evolving into an AI company. In particular, NAMUH x held a showcase last month and received a favorable response from participants for its groundbreaking air purification and vital sign monitoring capabilities powered by AI. The brand intends to expand into the international market, including the US and Malaysia, following its official launch in Korea in July. It was established from the resources of SK Magic and is strategically overseen by SK Networks. NAMUH x manages its brand communication independently, emphasizing innovative technologies and services that differentiate it from SK Magic's existing products. PhnyX Lab, an AI startup comprised of Silicon valley talent, introduced a modular RAG (retrieval augmented generation) solution for the pharmaceutical sector named Cheiron at the end of last year and is preparing for market growth by forming tailored partnerships with businesses. The heads of SK Magic and PhnyX Lab attended the meeting alongside President Choi and former Prime Minister Sunak. Former Prime Minister Sunak stated, "AI holds the key to transforming the future of drug development. It promises new levels of speed and precision that could help hundreds of millions of patients around the world." He added, "Phynx Lab's Cherion looks like the kind of technology that has the potential to play an important part in this revolution." SK Networks' efforts in collaborating and partnering with prominent global personalities and firms are expected to enhance its position as an AI enterprise.
Yahoo
21-05-2025
- Business
- Yahoo
SK Networks President Sunghwan Choi encounters former UK Prime Minister
Held a breakfast meeting with ex-UK Prime Minister Rishi Sunak during his visit to South Korea and discussed exchanges and AI cooperation between both nations. Anticipations that strengthening collaboration with important global figures and entities will enhance the corporate value of SK Networks. SEOUL, South Korea, May 21, 2025 /PRNewswire/ -- SK Networks, aiming to evolve into an "AI-focused business holding company", is intensifying its initiatives to enhance collaboration and expand its operations through a global network. In this context, Sunghwan Choi, President & COO of SK Networks, who has been steering the tech-focused AI operations of the headquarters and its subsidiaries, reportedly met with former UK Prime Minister Sunak to explore methods for improving exchanges and corporate collaboration between the two nations. As stated by company representatives, this Tuesday at The Shilla Seoul, President Choi and former Prime Minister Sunak held a breakfast meeting to exchange global trends and discuss AI and other technological collaborations between nations and corporations. SK Networks founded Hico Capital (now SK Networks Americas) in Silicon Valley, USA, in 2020. The company has been concentrating on global investments in and partnerships with technology firms centered around Hicosystem, the human network associated with future expansion sectors. The opportunity for an unexpected in-person meeting between Rishi Sunak, who visited South Korea for an international conference, and Sunghwan Choi is believed to stem from this network. During this meeting, the pair shared perspectives on the current state of the global economy. They also discussed approaches to enhance relations between the two countries from the viewpoints of a politician and a business leader, as well as the possibilities and examples of AI collaboration at both national and corporate levels. In this context, President Choi presented innovative AI-based cases and global strategies from SK Group and SK Networks, expressing optimism that, in line with current trends, the company's AI endeavors would grow in the UK and across Europe, aiding the advancement of human civilization. The industry has high expectations for the future potential of SK Networks, which is evolving into an AI company. In particular, NAMUHx held a showcase last month and received a favorable response from participants for its groundbreaking air purification and vital sign monitoring capabilities powered by AI. The brand intends to expand into the international market, including the US and Malaysia, following its official launch in Korea in July. It was established from the resources of SK Magic and is strategically overseen by SK Networks. NAMUHx manages its brand communication independently, emphasizing innovative technologies and services that differentiate it from SK Magic's existing products. PhnyX Lab, an AI startup comprised of Silicon valley talent, introduced a modular RAG (retrieval augmented generation) solution for the pharmaceutical sector named Cheiron at the end of last year and is preparing for market growth by forming tailored partnerships with businesses. The heads of SK Magic and PhnyX Lab attended the meeting alongside President Choi and former Prime Minister Sunak. Former Prime Minister Sunak stated, "AI holds the key to transforming the future of drug development. It promises new levels of speed and precision that could help hundreds of millions of patients around the world." He added, "Phynx Lab's Cherion looks like the kind of technology that has the potential to play an important part in this revolution." SK Networks' efforts in collaborating and partnering with prominent global personalities and firms are expected to enhance its position as an AI enterprise. View original content to download multimedia: SOURCE SK Networks Sign in to access your portfolio
Korea Herald
25-04-2025
- Business
- Korea Herald
SK Networks debuts robotics brand NamuhX ahead of July launch
SK Networks, the IT solutions unit of SK Group, on Wednesday launched its new robotics brand NamuhX, unveiling plans to debut its first wellness robot in July. Major clients, development partners and media attended the showcase event in Seoul, which began with congratulatory video messages from global figures including Vivek Ranadive, chairman of Bow Capital and owner of the NBA's Sacramento Kings, and Son Tae-jang, chairman of Mistletoe and a founding member of SoftBank and Yahoo Japan. SK Networks Chief Operating Officer Choi Sung-hwan, who serves as executive advisor to NamuhX, opened the session by introducing the new brand and its philosophy. According to Choi, the name 'Namuh' is 'human' spelled in reverse, symbolizing a shift from tech-driven to human-led innovation. The added 'X' represents limitless creativity and innovation, he said. He emphasized that the brand's open ecosystem strategy is central to its market approach, with the company collaborating with global startups and AI experts, including Silicon Valley-based PhnyX Lab. Preorders for the NamuhX robots will begin in June, with global rollouts to follow in phases, starting in the US and Malaysia. The company added that it plans to continue integrating wearables and home devices into its robot ecosystem. A live demonstration highlighted several key features of the robot, including air purification, facial recognition for vital sign monitoring and voice-controlled user interaction.
Korea Herald
16-04-2025
- Business
- Korea Herald
Average length of employment at 80 major firms rises
The average length of service of employees at 80 major South Korean companies has increased in the past five years despite frequent job changes among young workers and retirement programs for senior workers, a corporate data tracker said Wednesday. In its survey of 80 companies that released data on their employees' average years of service for the 2020-2024 period, CEO Score found the workers' average length of service rose to 14.03 years in 2024 from 13.55 years in 2020. The 80 firms belong to the country's top 100 companies in terms of sales. The average period of employment for female workers jumped to 12.94 years from 11.38 years over the cited period, while that of male employees climbed to 14.41 years from 14.29 years, the data firm said. SK Networks, an information technology solutions unit under SK Group, reported the sharpest growth in the employment period, with it increasing to 13.92 years in 2024 from 9.05 years in 2020. In contrast, leading automaker Hyundai Motor Co. saw its workers' years of service fall by the most, dropping to 15.8 years from 18.8 years. In 2024, Kia Corp. topped others with an average 21.8 years of service, followed by KT Corp. at 20.5 years, SK Incheon Petrochem 20 years and Citibank Korea 18.84. Doosan Bobcat, a construction equipment maker, posted 3.2 years, the shortest length of service, in 2024. (Yonhap)
Korea Herald
11-03-2025
- Business
- Korea Herald
SK Networks joins forces with Qualcomm to expand AI, IoT solutions
SK Networks said Tuesday it has teamed up with Qualcomm Technologies to integrate the US chip giant's Internet of Things solutions into its key businesses and subsidiaries and expand its artificial intelligence-driven business portfolio. As part of the partnership, Qualcomm will provide SK Networks with advanced IoT solutions, including its Dragonwing QCS6490, which supports on-device large language models. Launched in March 2023, the Qualcomm Dragonwing QCS6490 is a high-performance system-on-chip solution for industrial and commercial IoT applications. It is optimized for a wide range of IoT applications, including robotics, drones, gateways, tablets and kiosks. SK Networks expects the partnership to create synergies that align with its AI-driven business model, which is being integrated across various investment sectors. 'Given SK Networks' nature of incorporating AI-linked business models across diverse domains, we anticipate significant synergy from the collaboration,' an SK Networks official said. The company plans to evaluate the potential applications of Qualcomm's technology across its headquarters and subsidiaries. The ultimate goal is to leverage Qualcomm's cutting-edge IoT solutions to achieve world-class AI performance and security. 'By forming a partnership with Qualcomm, a global leader in technology expertise, we can enhance both the depth and speed of our evolution as an AI-driven company,' said SK Networks President and Chief Operating Officer Choi Sung-hwan. 'Qualcomm has been continuously expanding its portfolio of industrial and commercial IoT products and solutions, receiving positive responses in sectors such as robotics, manufacturing, logistics and retail. Through our collaboration with SK Networks, we aim to further broaden our business portfolio, leveraging the advantages of on-device AI,' said Kwon Oh-hyung, president of APAC at Qualcomm Technologies. Meanwhile, SK Networks, which proclaimed the vision of 'civilizing humanity through AI democratization' early last year, has been actively building business models that integrate AI into its various business sectors. SK Speedmate, an automotive maintenance company, plans to collaborate with Germany's DAT Group to implement services such as an AI-powered automatic quotation system. Amid the rise of generative AI, data management consulting firm En-core is preparing to launch a new solution package this year.
