Why did Amazon choose SK group president Tae-won Choi?

Amazon knocks on the Korean market, “matches” with Choi Tae-won
SKT and Amazon grow on 11th Street

SK Group will partner with Amazon, the world’s largest e-commerce company, to create 11th Street, a subsidiary of SK Telecom, which is the “center of governance reorganization”.

According to the related IB sector and the telecommunications sector on the 14th, SK Telecom, which stated the post-communication in advance, is pursuing a partnership with Amazon to expand its 11th business.

It is reported that 11st Street, which represents the trading business of the SK group, is about to attract investment of up to 300 billion won from Amazon.

This alliance is the result of the agreement between Amazon, which plans to enter the domestic e-commerce (e-commerce) business, and SK Group, which aims to expand the business of commerce.

Amazon judges the Korean market where many ecommerce companies are competing for the size of the so-called “ Red Ocean ” and can be a game changer through a large company called SK in a situation where existing trading companies they have a solid location and operating system. It seems to have finished the analysis.

It is known that SK group chairman Choi Tae-won is preparing to expand new platforms and business activities within the group.

SK Telecom is preparing to go public on 11th Street.

An industry official said of the investment: “It looks like the result of an agreement between SK Group, which needs to increase 11th Street’s corporate value, and Amazon, which plans to beat the Korean market next year through large investments. scale before the eleventh price “. .

If the alliance is established, home customers will be able to purchase Amazon products directly until 11 am starting next year as early as next year.

Right now, some industry players predict that the cooperation between the two companies will change the existing e-commerce landscape by 180 degrees.

In addition to the 11th, there is a possibility that cooperation on various platforms between Amazon, SK Telecom and SK Group will continue.

SK Telecom is developing the 5G edge cloud in partnership with Amazon Web Services (AWS).

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