In SK’s 2024 annual report, South Korea’s third-largest chaebol, after Samsung and LG, has classified Vingroup’s stocks (VIC) as held for sale.
In fact, SK’s move comes as the company reconfigures its partner’s investment portfolio in international markets in general. The company currently still holds 4.72% of Vingroup’s shares.
As of the end of 2023, SK held 6.1% of Vingroup’s shares, with a book value of VND 9,587 billion, equivalent to KRW 549.2 billion.
In January 2025, Vingroup announced that SK Investment Vina II, a member fund of SK Group, would transfer more than 50.8 million VIC shares of Vingroup between January 16 and February 14, 2025, to restructure its investment portfolio. As a result, SK’s ownership in Vingroup decreased from 6.05% to 4.72%, and it is no longer a major shareholder.
In 2019, Vingroup and SK Group signed a strategic cooperation agreement. SK Group invested approximately VND 23,300 billion (approximately USD 1 billion at that time) to purchase Vingroup’s shares and became a strategic partner.
Accordingly, SK registered to buy 154.3 million shares issued by Vingroup through a private placement and repurchased 51.4 million secondary shares from VinCommerce (now WinCommerce). At that time, Vingroup was still the parent company of VinCommerce.
Additionally, the report shows that SK no longer held shares in Masan Group Joint Stock Company (MSN) by the end of 2024, compared to 9.2% at the end of 2023. SK had spent $470 million to acquire these shares.
However, within the Masan ecosystem, SK still holds 8.6% of the shares of Commercial and Service Development Joint Stock Company (down from 15.8% at the end of 2023) and 4.9% in The CrownX (unchanged). Regarding Imexpharm, SK’s report did not note any significant changes in 2024.
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The VinFuture Foundation: Revolutionizing Education with a Bold Vision for the Future
The proposed high-speed metro line connecting Ho Chi Minh City’s center to Can Gio, as suggested by Vingroup, is set to commence construction in 2026, with an expected completion date of 2028.
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The Nam Dai Lo Thang Long project (Vinhomes Me Tri 2) spans an impressive 75 hectares, strategically located adjacent to the Thang Long Boulevard and the thriving Vinhomes Green Bay urban area.
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While the majority of investors in Vietnam opt for utilizing existing infrastructure for their real estate, tourism, and resort projects, these two industry giants are taking a different approach by constructing their own connective infrastructure.
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The majority of real estate businesses are petitioning the government to consider implementing regulations and mechanisms that prioritize the development of social housing projects. They propose that this can be achieved by streamlining and shortening the often-lengthy procedures and timelines currently in place.
