SK Group chairman Chey Tae-won on Monday proposed sharing knowhow on social enterprises with Chinese partners on the sidelines of an international economic forum held in China’s province of Hainan.

Chey spoke about SK’s experiences in supporting social enterprises during a breakfast meeting of about 40 Chinese politicians, government officials, businessmen and academics hosted by the conglomerate before the official opening of the Boao Forum for Asia.

Chey underscored the importance of social enterprises in raising employment and reducing the income gap.

"Social enterprises can be a significant alternative to resolve social problems accompanying rapid economic development and achieving sustainable development,” Chey said.

"SK’s model of social enterprise will be highly useful in China, which has social structures similar to Korea. … SK is willing to share our experience and knowhow with our partners in China.”

SK Group recently turned its maintenance, repair and operation company with annual sales of 130 million won into a social enterprise named Happynarae that can spend more than two-thirds of its profits on social purposes.

Chey has attended the annual Boao Forum, dubbed the Davos Forum of Asia, for seven years in a row.

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