This year, SK Group aims to increase its exports by utilizing its unique research and development system, dubbed R&BD+E. The R&BD+E system – which stands for resource and business development plus engineering – is supposed to minimize risks in starting new businesses through close scrutiny by engineering experts.
SK Group, which owns Korea’s No. 1 telecommunications company, is more recognized for its domestic service businesses rather than being a manufacturer contributing to the country’s exports. So it was a surprise earlier this month when the third-largest conglomerate said that exports of its seven manufacturing subsidiaries – SK Innovation, SK Energy, SK Global Chemical, SK Lubricants, SKC, SK Chemical, SK Networks – accounted for 70 percent of their total sales in the first two months of the year.
The family-run group has now set an ambitious goal: to become a “genuinely global business” by increasing exports and expanding operations abroad. “We aim to take a third quantum jump this year with our unique R&BD+E system,” the company announced this week.