SK Group, the second-largest conglomerate in South Korea, is intensifying its presence in the US market to enhance its negotiating power and navigate potential changes in US regulations. The conglomerate has established SK Americas, consolidating its regional offices, and is increasing its lobbying activities in the US. SK Group's focus on the US market is driven by the need to adapt to regulatory changes and mitigate business risks, particularly in the areas of chips, batteries, and energy. The leadership of SK Americas is entrusted to Yu Jeong-joon, an experienced SK veteran with a strong background in overseas business operations. Alongside Yu, Chey Jae-won, the CEO of SK Innovation, also plays a significant role in expanding the group's US relations. The US teams are prioritizing maximizing regulatory incentives and subsidies under the Biden administration while preparing for potential changes in US leadership and policy direction. SK's strategic moves in the US reflect its efforts to bolster its readiness and negotiating power in the face of evolving geopolitical dynamics and potential shifts in US-China relations. The conglomerate's focus on the US market underscores the importance of effectively managing business risks and regulatory changes in a critical global market.
SK Group, the second-largest conglomerate in South Korea, is intensifying its presence in the US market to enhance its negotiating power and navigate potential changes in US regulations. The conglomerate has established SK Americas, consolidating its regional offices, and is increasing its lobbying activities in the US. SK Group's focus on the US market is driven by the need to adapt to regulatory changes and mitigate business risks, particularly in the areas of chips, batteries, and energy. The leadership of SK Americas is entrusted to Yu Jeong-joon, an experienced SK veteran with a strong background in overseas business operations. Alongside Yu, Chey Jae-won, the CEO of SK Innovation, also plays a significant role in expanding the group's US relations. The US teams are prioritizing maximizing regulatory incentives and subsidies under the Biden administration while preparing for potential changes in US leadership and policy direction. SK's strategic moves in the US reflect its efforts to bolster its readiness and negotiating power in the face of evolving geopolitical dynamics and potential shifts in US-China relations. The conglomerate's focus on the US market underscores the importance of effectively managing business risks and regulatory changes in a critical global market.