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    SK Networks

    SK networks Co. history, profile and corporate video

       SK networks Co. Ltd. is a multinational corporation with a wide span of businesses, including mobility, home appliances, blockchain, ICT device distribution, trading, and hotel. The company also has an in-house investment vehicle built. SK networks is a subsidiary of SK Group.

    HISTORY


    1953:  Chairman Chey Jong-gun, SK’s founding father, purchases the Sunkyong Textile plant from the Korean government to establish a small textile company in the aftermath of the Korean War.

    1962:  Exported rayon fabric to Hong Kong for the first time in Korea.

    1963:  Awarded the Gold Tower Order of Industrial Service Merit.

    1973:  Chairman Chey Jong-hyun took office.

    1976:  Designated as a general trading company.

    1977:  IPO and listing on Korea Stock Exchange.

    1980:  Acquired Korea National Oil Corporation.

    1998:  Company name changed to SK Trading.

    2000:  Company name changed to SK Global (Merged with Speedmate and SK Distribution).

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    2003 October:  Company name changed to SK networks.

    2014:  Launched SK rent-a-car.

    2016:  Acquired Dongyang Magic.

    2019:  Acquired AJ rent-a-car.

    2020:  Launched SK rent-a-car as joint Corporation

    2021: MINTIT, cartini spin-off.

    OPERATIONS


    [Global Investment]

       Global Investment Center focuses on backing start-ups and VCs that can lay cornerstone for the company’s future growth and accelerate development of existing businesses through their innovative thoughts and technologies. Its main areas of interest involve digital transformation (e.g. AI, DT, Fintech, etc.), future innovation, and sustainability, with primary focus on Korea and US-based companies. For better local reach, SK Networks also established its own US-based investment entity, Hico Capital, at the heart of Silicon Valley and continues to solidify its own network system and build reputable track records.

    [Key Business Areas]

    SK MAGIC

       SK Magic has been leading the trends of the home appliances market with its differentiated technology and services. The company is growing as a leading company within the Korean industry centered on ‘rental services’ that are at the forefront of future growth and ‘home appliances’ secured with a solid business foundation. 

    SK RENT-A-CAR

       As the oldest company specializing in car rental service for over 34 years in the industry, SK Rent-a-Car continues to grow with its competitive edge in providing a ‘Total Car Life Service’ and attaining business models that integrate the latest digital technologies. SK Rent-a-Car has been showing active sales through its 150 nationwide network points and prepares to advance as the No. 1 mobility service provider of a contemporary vehicle lifestyle to customers.

    Blockchain

       Focusing on its vast technological potential to be applied to a variety of uses on the future net environment, SK Networks has announced the introduction of new blockchain business. The company aims to revolutionize its current system for mobility, logistics, and distribution using blockchain technology, which will further drive up customer value, while trying to expand its business horizon to new areas like NFTs. In pursuit of these goals, the company proactively engages in new investments and building cooperative networks within blockchain ecosystem as primary means to acquire resources and capabilities. 

    ICT Marketing

       As Korea’s No. 1 mobile device distributor, SK Networks sells mobile devices largely in wholesale distribution and distributes various ICT devices such as laptops, tablet PCs, and ICT accessories through collaboration with manufacturers.

       – MINTIT, SK Networks’ used mobile device recycling brand, improves the preexisting non-transparent trade structure of the used phone market and expands the usability of resources. As a used mobile recycling platform, the ‘MINTIT ATM’ provides an environment where anyone can participate in the trade of used phones anywhere by incorporating AI evaluation technology and a convenient UI/UX.

    TRADING

       Based on its 50-year-long experience in global business, SK Networks has secured a differentiated level of competitiveness through its exceptional expertise in global sourcing, excellent information resources, and strategic networking. With its competitiveness, the company carries out a global trade business of industrial materials and chemicals.

    SPEEDMATE

       SpeedMate is the No. 1 brand in the automotive aftermarket, providing a wide range of services from emergency roadside assistance to the maintenance for imported cars, distribution of imported vehicle components and tires, and exports of automotive parts.

       – ‘Tire Pick,’ having initially started as Speedmate’s online-to-offline (O2O) tire selling platform, developed into a separate brand called “CARTINI” in 2021. It offers selected products and tire replacement services, as well as providing information on the tire sizes according to the vehicle registration numbers.

    WALKERHILL

       Walkerhill Hotel & Resort provides the best lifestyle experience in leisure, culture, and food, as well as creating an environment where visitors can rest comfortably while surrounded by nature. Grand Walkerhill Seoul, Vista Walkerhill Seoul, Douglas House, and external businesses such as Darakhyu (Incheon Airport Transit Hotel, Yeosu) are the representative assets of the business.


       According to Forbes, SK networks Co. Ltd. is considered one of the Largest Public Companies in the World.

    *Information from Forbes.com, Wikipedia.org and www.sknetworks.co.kr/en

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