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SK Group is considering selling some of its assets in Southeast Asia and reinvesting in other businesses in countries in the region, including Vietnam.
The South Koren conglomerate is planning to expand its team in Vietnam despite preliminary talks to sell some of its assets there.
According to an SK official, they make asset adjustments to their portfolio from time to time, but nothing has been confirmed yet.
Samsung Electronics makes half of its global smartphone output in Vietnam, and South Korea has upgraded their relations to a “comprehensive strategic partnership”, which Vietnam has established only with India, China, and Russia.
The conglomerate's decision as to which assets to sell would depend on buyers’ offers,. It is considering reinvesting some of the proceeds from any stake sales in local firms.
The SK Group is the fourth largest investor in Vingroup, Vietnam’s largest conglomerate.
Its combined investment in Vingroup and Masan Group, the second-largest conglomerate in Vietnam, is worth over $1 billion.
SK Group’s assets that could be sold also include stakes in Vietnam’s retail pharmacy chain Pharmacity, retailer VinCommerce, and consumer retail platform The Crown X.
