SK Group restructures Japanese unit to strengthen local operations

SK Group has reorganized its Japanese subsidiary to bolster its business operations in the Japanese market.

According to the 2024 business reports from SK Inc. and SK Innovation on Friday, both companies acquired 700,000 shares or 24.9 percent each of SK Telecom’s Japanese subsidiary at the end of last year.

The investment, amounting to about 3.3 billion won ($2.25 million) per company, was made through the purchase of shares previously held by SK Square and additional capital injections.

With SK Inc., the holding company of the conglomerate, and SK Innovation investing in SK Telecom’s Japanese entity, the move is seen as a strategic restructuring of the subsidiary.

The Japanese unit is expected to support SK Group’s local business endeavors in fields such as artificial intelligence and energy solutions while also exploring new business opportunities as needed.

“Just as SK Americas represents the group in the US and SK China does in China, the Japanese subsidiary will serve as SK Group’s representative in Japan, supporting global partnerships,” an SK Group official said.