6/6/2012

Turkey’s Dogus partners with South Korean SK Group

Hurriyet - The Dogus Group of Turkey has signed a strategic partnership and cooperation agreement with South Korea’s SK Group. Having signed a memorandum of understanding in January, the two conglomerates also agreed on jointly forming a private equity fund and an e-commerce platform. The partnership plans to invest in a semiconductor production facility in Turkey.

The strategic partnership will focus on a number of sectors like ICT, energy, infrastructure, media and tourism in Turkey, and the region. “This partnership is a result of our efforts to bring in long-term foreign investors to our country. Sectors with export potential and high added-value that will cut down the imports of high-tech materials are our priority,” Dogus Group CEO Ferit Sahenk said at the press conference. “Our plans include setting up a semiconductor production facility in Turkey, which will serve a variety of industries,” he said without providing further details.

The private equity fund to be established by Dogus and SK Group will have an initial capital of USD 100 million, which is expected to reach USD 500 million with the addition of other investors from Turkey and abroad.

The Dogus Group is active in the finance, automotive, construction, media, real estate and energy sectors with 122 subsidiaries. SK Group, one of the largest conglomerates in South Korea, has operations in the fields of communications, energy, chemicals, shipping and construction.

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Turkey; dogus group; sk group; korean investments turkey; semiconductor production turkey