SK Group Chairman Chey Tae-won on Monday called for businesses to generate social value through technological innovation at a state-sponsored expo in the western Chinese city of Chongqing.

During his opening speech at the Smart China Expo 2019, Chey said technological innovation would not only enhance the sustainability of companies but also maximize their capabilities in creating social value to help communities solve problems.

“The theme of the expo, ‘Smart Technology: Empowering Economy, Enriching Life,’ is close to what SK has been contemplating,” he said, suggesting the city of Chongqing nurture industries to improve the environment.

The chairman also highlighted SK’s joint work with China’s state asset management committee to develop tools to measure social value.

During his visit to the city, Chey plans to meet government officials Chen Min’er, Communist Party secretary of Chongqing, and Chongqing Mayor Tang Liangzhi.

Chongqing is an important business base in China for SK, officials said. The group’s semiconductor unit, SK hynix, has a chip testing and packaging plant in the Chinese city and a second one is set to start operations within this year.

By Cho Chung-un (christory@heraldcorp.com)