South Korea's SK Magic to expand footprint in Malaysia with RM300 mln investment

KUALA LUMPUR June 22 (Bernama) -- SK Magic, a South Korean home appliance brand, will be investing RM300 million (US$68.1 million) to expand its footprint in Malaysia, with the aim to create over 1,000 jobs in Malaysia. SK Magic Malaysia managing director Andy Kim said, as of today, 1,850 jobs have been created since 2018, and the company is looking into pumping more investments into the operations in Malaysia. “The investment will be allocated towards the facilitation of future strategies and initiatives, including increasing the number of SK Magic agents, outlets and showrooms throughout Malaysia. “This move is also timely considering the country is now going into the endemic phase of COVID-19 and we would want to do our best in protecting as many Malaysians as possible starting from their homes,” he told Bernama recently. Kim also said that Malaysia has the potential to become SK Magic’s central hub in Southeast Asia to facilitate further growth across the entire region in the next five years. He added that with the business performance shown by SK Magic during the pandemic period compared with other markets, there are a lot of areas that can be expanded, improved and learnt from. “This is an opportunity for us to leverage key lessons from Malaysia and use them in other Southeast Asian markets. I am confident that we can do so if we keep up with our current momentum and improve when needed,” said Kim. Currently, Malaysia is the first country outside South Korea where the company has a headquarters and ventured outside of the republic. “Ultimately, we aim to increase the number of host countries as we expand our footprint outside South Korea, and move to localise the products and approaches that need to be taken,” he said. SK Magic is a wellness and home appliance arm of one of the biggest South Korean conglomerates, SK Group. -- BERNAMA