SK Networks, formerly a trading firm, hosted its second annual AI WAVE forum on Wednesday. The event, designed to connect promising global AI startups with investors, highlighted SK Networks’ transformation into a major player in the artificial intelligence sector. The forum showcased the company’s growing investment portfolio, which has been built since 2020, and underscored its commitment to fostering a vibrant and interconnected AI ecosystem. This year’s forum built upon the success of the inaugural event in 2023, demonstrating continued growth and investment in the field.
President and COO Choi Sung-hwan emphasized the importance of collaboration between startups, industry leaders, and investors. He stressed the crucial role of information exchange in securing future growth opportunities. Choi participated in a panel discussion with Sung Kim, CEO of Upstage, a leading AI startup supported by SK Networks and selected for the government’s Independent AI Foundation Model project. Upstage focuses on developing custom AI models and systems for corporate clients, utilizing its advanced large language model technology.
Choi highlighted the importance of “sovereign AI” for Korea’s digital sovereignty and future industries. He advocated for bold government investment, public-private partnerships, alignment with global standards, and the expansion of the technological ecosystem through both domestic and international collaborations. He further emphasized the need for AI models tailored to the unique Korean cultural and industrial context, thereby differentiating them from generic global models offered by large tech companies.
The forum also featured presentations from other notable startups in SK Networks’ portfolio. PhnyX Lab showcased its groundbreaking generative AI solution specifically designed for the pharmaceutical industry, a testament to the practical applications being developed by the companies SK Networks supports. Discussions also centered on strategic investment strategies in the burgeoning AI sector, with panelists from HF0, a co-sponsor of the forum, sharing their insights alongside representatives from SK Networks and PhnyX Lab. SK Networks reiterated its commitment to expanding its global network and internal capabilities to drive further innovation and diversification within its business portfolio.
