SK Networks, which has reinvented itself as an artificial intelligence (AI) company from its origins as a trading firm, hosted the SK Networks AI WAVE 2025 forum Wednesday to introduce promising startups from across the globe to investors and discuss the future of the AI ecosystem.
At the second AI WAVE event, following its debut in 2023, SK Networks President and Chief Operating Officer Choi Sung-hwan delivered a keynote address, saying it is crucial to secure growth opportunities through active information exchange among innovative startups, industry leaders and prominent investors.
“Through this event, we aim to present our AI investment portfolio that we have built since 2020 and to expand the ecosystem where technology, capital and vision are interconnected,” he said.
Choi also participated in a panel discussion with Sung Kim, CEO of Upstage — one of the AI startups backed by SK Networks and the only startup chosen for the government’s Independent AI Foundation Model project. Upstage helps corporate clients build AI models and systems through its competitive large language model technology.
“Sovereign AI is a key strategy for securing digital sovereignty and advancing future industries. Korea must build its own AI ecosystem through bold government-led investments and public-private cooperation models, ensure alignment with global standards, and expand the technological ecosystem through domestic and international partnerships,” Choi said.
“Tailored models optimized for the Korean cultural background and industrial environment will differentiate sovereign AI from generic global big tech models.”
SK Networks President and Chief Operating Officer Choi Sung-hwan, left, speaks to Upstage CEO Sung Kim during SK Networks AI WAVE 2025 at Grand Walkerhill Seoul, Wednesday. Courtesy of SK Networks
Kim pledged to develop highly practical, industry-specific specialized models and grow a sustainable, independent AI ecosystem to help Korea boost its global industrial and AI competitiveness.
Prior to the panel discussion, PhnyX Lab presented its development of Korea’s first generative AI solution tailored for the pharmaceutical industry. PhnyX Lab is also among the AI startups to receive investment from SK Networks.
Forum co-sponsor HF0 presented the investment fund it manages, which includes SK Networks backing. Dan Morse, head of investor relations at HF0, joined panelists Shin Sang-eun, head of AI Growth at SK Networks, and PhnyX Lab CEO Bae Min-seok to discuss the future of AI and strategies for smart investment.
“As an AI-focused business holding company, we will strengthen our internal capabilities and expand our global tech network to further diversify our business portfolio and drive innovation-led outcomes,” Shin said.