SK Planet, the mobile platform unit of SK Telecom, said Thursday that it has signed a memorandum of understanding with Dogus Grubu, a Turkish conglomerate, for business cooperation.

SK Planet CEO Seo Jin-woo and Dogus Grubu CEO Husnu Akhan signed the agreement titled “Partnership for New Internet Business” at Holland House, a mountain resort in Davos, Switzerland, on Wednesday.

The two companies plan to focus on the e-commerce sector first and then extend cooperation in other mobile business areas, SK said. The company will announce a joint investment plan within the year. 

Dogus Grubu is one of the top three largest companies in Turkey. It owns 125 subsidiaries in seven fields including finance, automotive, construction and media.

The MOU came as SK Group chairman Chey Tae-won and Dogus Grubu chairman Ferit Sahenk have continued discussions for a potential business partnership since last year, SK said.

“We see big business potential in diverse fields based on Dogus Grubu’s wide business infrastructures,” Seo said.

“SK Planet’s global competitiveness is also expected to be further strengthened to enter overseas markets.”

SK Planet, the operator of the nation’s No. 1 mobile app store T-Store, has launched services in Taiwan and China. In November, it introduced the app store “qiip” in Japan.

The company also owns the Internet open market 11st Street, the second-largest player in Korea, with which it is also preparing to enter the Southeast Asian market in the future.

By Lee Ji-yoon (jylee@heraldcorp.com)