SK Group Looks to Strengthen North America Business Through MOU with Export Development Canada

Partnership will focus on fostering opportunities in clean tech and advanced manufacturing

In the past five years, SK Group’s global expansion has led to significant growth in its North America businesses, increasing investments and assets in the region by nearly five-fold.

SK Group and Export Development Canada (EDC), Canada’s export credit agency, announced this week a Memorandum of Understanding (MoU) that could support future economic growth in the region. The MoU is intended to explore ways to advance export trade and investments between Canada and South Korea.

SK Group and EDC share common interests in two major areas of global business – clean technology and advanced manufacturing. SK Group has become a recognized leader in clean technologies with global manufacturing operations and partnerships in EV batteries and hydrogen energy.

Canada is working to play a leading role in the supply chain for electric vehicles with a rich supply of critical minerals commonly used in EV batteries. Canada also has focused on advancing hydrogen energy, carbon capture and storage, and offshore wind technologies.

Through the MoU, EDC brings financing and structuring expertise, as well as deep relationships with Canadian exporters and investors. SK Group plans to work with the EDC to support connections to its subsidiaries and affiliates. The two sides aim to create new opportunities that benefit both Canada and South Korea.

You can find more details on the MoU in this press release from the EDC.