Skip to main content

Future industries: Discussed by SK, Swedish private equity chiefs

     SK Group Chairman Chey Tae-won (right) and Conni Jonsson, founder and chairperson of Swedish private equity firm EQT Partners. (SK Group)



Vocabulary

green energy

/ˈgriːn ˈɛnɚʤi / n.

-any energy type that is generated from natural resources, such as sunlight, wind, or water.


Green energy will not run out because it naturally replenishes.


transparency

/trænsˈperənsi/ n.

-the basis for trust between a firm and its investors, customers, partners, and employees.


The chief said there needs to be more transparency in the way the business operates.


value chain

/ˈvælju ˈtʃeɪn / n.

-a business model that describes all of the activities that a business employs to create a product or service.


The value chain is the activities involved in delivering value to customers. 


picking up

/ˈpɪkɪŋ up/ phrasal verb

-the business is improving and making progress. 


“Our sales picked up quite a bit during the busy Christmas period.”


joint venture

/ˈʤoɪnt ˈvɛntʃɚ/ n. 

-a business arrangement in which two or more companies combine resources on a project or service.


Companies typically pursue joint ventures to access a new market.


 

Comprehension Question

What did SK Group Chairman Chey Tae-won and Conni Jonsson, founder, and chairperson of Swedish private equity firm EQT Partners discuss?

What is green energy?

What did Chey tell Jonsson about the conglomerate's efforts?

What is the Korean Chamber of Commerce and Industry and what is it stepping up?

What is “Environmental Protection Credit,” according to Chey?


Article

SK Group Chairman Chey Tae-won met with Conni Jonsson, founder, and chairperson of Swedish private equity firm EQT Partners, and discussed expanding ties on future industries, such as green energy and health care, officials said Sunday.


In the meeting held Friday in Seoul, Chey told Jonsson about the conglomerate's efforts in reducing carbon emissions, improving transparency in governance, and creating both economic and social values, they said. “South Korea is a leader in hydrogen, and we at SK Group intend to build a value chain that spans production, distribution, and consumption,” Chey said.


In response, Jonsson, who heads one of Europe’s biggest equity firms handling 90 trillion won ($76 billion), said that EQT is ready to cooperate with SK Group on any issue, noting South Korea’s hydrogen industry is picking up speed much faster than Europe’s. Jonsson showed interest in SK Group building its presence in Europe, adding that his firm would help the group expand its reach there.


Chey detailed the group's plan to increase investments in car batteries in Hungary and Poland. SK Innovation, a subsidiary that supplies electric car batteries to Hyundai Motor and Ford Motor, has production lines in the US, China, and Hungary. In September, the battery maker revealed plans to invest 5.1 trillion won to build production facilities in the US by 2027 through a joint venture with Ford Motor.


The meeting comes as the Korean Chamber of Commerce and Industry, a leading coalition of South Korean businesses that Chey heads, is stepping up calls for finding ways to boost ESG investment, and more global indices are tracking the booming investment trend.


Recently Chey said his firm is in the final stages of rolling out what he calls an “Environmental Protection Credit,” a soon-to-be global campaign encouraging financial companies to take part in efforts to solidify ambitious carbon-cutting commitments. SK Group was the first South Korean company to join RE100 - a global initiative that commits businesses worldwide to using 100 percent renewable electricity as part of reducing greenhouse gas emissions.


Source: Choi Si-young (siyoungchoi@heraldcorp.com), Dec 5, 2021 http://www.koreaherald.com/view.php?ud=20211205000226&np=1&mp=1






Labels:

Popular posts from this blog

Climate change blamed for killing 14% of the world's coral reefs in just 10 years

Part 1. Vocabulary decade /ˈdekād/ n. - a period of ten years He taught at the school for nearly a decade. succession /səkˈseSHən/ n. - the action or process of inheriting a title, office, property, etc. The new king was already elderly at the time of his succession. trigger /ˈtriɡər/ n. - cause 9an event or situation) to happen or exist An allergy can be triggered by stress or overwork. conviction /kənˈvikSH(ə)n/ n. - a firmly held belief or opinion She takes pride in stating her political convictions. profound /prəˈfound/ adj. - (of a state, quality, or emotion) very great or intense: The impact of temperature rise has been profound.   Part 2. Comprehension questions What are the Global Coral Reef Monitoring Network (GCRMN) findings of the rising ocean temperatures? What do coral reefs support? What does the death o...
Read more

Diwali fervour returns in India as COVID situation eases

 Part 1. Vocabulary commemorate(s) /kəˈmeməˌrāt/ v. - recall and show respect for (someone or something): "a wreath-laying ceremony to commemorate the war dead" venerate(d) /ˈvenəˌrāt/ v. - regard with great respect; revere: "Mother Teresa is venerated as a saint" adopt(ed) /əˈdäpt/ v. - choose to take up, follow, or use: "This approach has been adopted by many big banks" throng(ing) /THrôNG/ v. - to be or go somewhere in very large numbers:  “Shoppers were thronging the streets” fatality (ies) /fāˈtalədē/ n. - an occurrence of death by accident, in war, or from disease: "Shooting was heard and there were fatalities"   Part 2. Comprehension Questions What is Diwali? Who celebrates Diwali? What does Deepavali commemorate? Who do Jainism followers commemorate? Why...
Read more

February 22 is a palindromic date

The date February 22, 2022, for example, is a palindrome in the US and the UK when written as  22/2/22 , or 2/22/22.     PALINDROME is something which reads the same forwards as it does backwards - for example, words like “civic”, “radar” and “kayak”. Dates and numbers can also be a palindrome - here's everything you need to know. A palindrome is when a word, date or phrase reads exactly the same forwards as it does backwards. For example, the name “Hannah” reads the same when in reverse. Sometimes, whole phrases can be a palindrome, such as: "Was it a rat I saw?" The longest palindromic word in the Oxford English Dictionary is “tattarrattat”, which was written by James Joyce in his 1922 book Ulysses, and imitated the sound of someone knocking on a door. Just like words, some dates are also palindromic. This is because whether you write it as day/month/year or month/day/year, the numbers remain the same. It's not often that dates are palindromic in the US and the UK d...
Read more