SK chief discusses ways to boost China ties

SK Group Chairman Chey Tae-won has met with Chinese joint venture partners to discuss ways to expand cooperation in the petrochemical and chip businesses, his office said Sunday.

Days after announcing a plan to spend 46 trillion won ($38.2 billion) on building three chip plants over the next decade, Chey on Thursday visited a semiconductor plant in Wuxi in Jiangsu Province operated by a local subsidiary of SK hynix and met with business people and senior officials, the group said. 

SK Group chairman Chey Tae-won (right) shakes hands with officials at the Wuhan Naphtha Cracking Center, a petrochemicals plant in Wuhan, China, jointly built by SK Global Chemical and China’s state-run Sinopec in 2014. (SK Group)

His next destination was a naphtha cracker center in Wuhan, which was jointly built by SK Global Chemical and China’s state-run refiner Sinopec Corp. last year, it said.

SK has a 35-percent stake in the petrochemical complex in central China, which has an annual capacity of 2.5 million tons of ethylene.

Chey will visit Hong Kong on Thursday and move to Taiwan on Monday to meet local business partners in the petrochemical and chip businesses to discuss ways to expand their collaboration, his office said. (Yonhap)