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SK Group Chairman Choi Tae-won regularly hailed in 2021 to become a “ great global tech company ” in line with the convergence era. It is interpreted as a move to increase future competitiveness by promoting synergy between affiliates through the appointment of the vice president while maintaining key management in an uncertain environment such as Corona 19. Organizational reorganization was also completed to accelerate ESG management.
On the 3rd, SK Group carried out regular management staffing and reorganization operations. A total of 107 people were promoted in this greeting, up to 4 people promoted to vice president and president and 103 newly appointed people. Although the size of the new appointment has been slightly reduced compared to last year, it has boldly selected talents related to bio, materials and batteries. Seven female executives were also appointed as usual.
■ Park Jung-ho, Vice President of SK Hynix … ‘Speed’ to become a global ICT company
First of all, the most notable point in this greeting is that SK Telecom Park chairman Jung-ho, known as President Choi’s remorse, has joined the position of SK Hynix vice president. In SK Group, it is not common for one person to hold key positions in two ICT affiliates at the same time. This is being interpreted as a decision to further enhance corporate competitiveness in a fierce global environment by assigning Vice President Park, who has been deeply involved in heavy M&A cases such as SK Group Hynix, Japan’s Toshiba, and Intel’s NAND Flash.
Going forward, Vice President Park is expected to create business synergies by playing an important bridging role between telecommunications and semiconductor subsidiaries. The two companies recently collaborated, such as developing the first artificial intelligence (AI) semiconductor for data centers in Korea. This is President Tae-won Choi’s order that SK Hynix should no longer stay in the dictation DRAM memory business.
An SK Hynix official said, “Vice President Park Jung-ho will serve as CEO of SK Telecom, which is evolving into a major technology company, and Vice President of SK Hynix, whose global influence is strengthening,” he said. : “SK encompasses semiconductor and communications in the ICT sector where convergence is deepening.” We will play a role in creating various synergies through ICT family leadership. “
Changes are also taking place in the core axis of the SK Group’s major subsidiaries. It is criticized that SK Telecom is moving from a simple telecommunications company to a “large global technology company” and transforming into a “semiconductor-centric ICT company” as SK Hynix’s power is strengthened. If the transition to an intermediate holding starts in earnest, this picture should strengthen. The business community is interpreting that President Tae-won Choi’s assignment of Vice President Park Jung-ho to SK Hynix is also in mind.
The current governance structure is the owner’s family → SK Corp. → SK Telecom → SK Hynix. SK Group split SK Telecom into a telecommunications company and an investment / holding company and considered reorganizing the governance structure of the investment / holding companies covering ICT subsidiaries such as SK Hynix and SK Broadband.
In this case, SK Hynix may engage in aggressive mergers and acquisitions as a subsidiary. Currently, SK Hynix is a subsidiary of the SK holding company and it was burdensome to buy 100% of the company to be acquired under the Fair Trade Act.
A corporate official said, “President Tae-won Choi should continue to take the leap forward to become a global company by promoting a comprehensive ICT company that follows semiconductors and discovers food for the future to increase sustainability.” “It will be a stepping stone for Vice President Park to be named as a key player who can actually discuss various things while capturing the information.”
■ Establish a management system to guide ESG management … A class 74 president is also born
SK E&S president Yoo Jeong-jun was also promoted to vice president. Vice President Yoo has served as head of the management support division of SK Corporation, president of SK Energy R&M CIC and chairman of SK Corporation’s G&G promotion team, and will lead the global expansion of growing businesses such as new energies and renewables and energy solutions. SK Group is expanding investments in the energy sector together with bio and semiconductors.
A president in his forties was also born. The protagonist is Hyung-wook Choo, head of SK Holdings’ Investment 1 Center, who has been promoted to president of SK E&S. Born in 1974, 46, he became president in his third year as an executive. This is truly an exceptional greeting. SK’s HR philosophy that values skill and performance regardless of seniority is said to have been reflected. President Chu will serve as Yoo Vice President and joint representative of SK E&S.
A corporate official said, “President Tae-won Choi is abolishing executive ranks as CEO and CEO, and is emphasizing horizontal relationships so they can effectively demonstrate their skills rather than gaps between positions.” It is also valued as a culture, “he said.
Yeom Yong-seop, director of the SK Management and Economic Research Institute, was also promoted to president. President Yeom has led the Management Economics Research Institute since 2017 and is said to have played a role in recent SK changes such as happiness management and profound change. President Yeom is in charge of presenting the direction for companies like ESG and finding out the tasks.
In the Supex Pursuit Council, a board made up of affiliate CEOs, a governance committee was established to increase transparency in governance and expedite management of the affiliate board of directors. By establishing the environmental works council and managing the Bio subcommittee, AI subcommittee and DT subcommittee under related committees, ESG management will be strengthened and future foods such as bio, AI and DT will be actively explored.
■ Choi Tae-won, who completed the organizational reorganization, promotes “Financial History” next year
SK Group personnel and organizational reorganization in 2021 are all in touch with the ‘Financial History’ that President Choi Tae-won will promote from next year.
Financial Story is President Choi’s management strategy to present the future vision and growth strategy to stakeholders such as customers, investors and markets based on ESG management and to increase the overall value of each company. SK Group has discussed it fiercely this year through major annual executive events such as CEO seminars.
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In this greeting, Dae-sik Cho, president of the Supex Pursuit Council, who managed to serve three consecutive terms for the first time in the group, said at the opening of this year’s CEO seminar: “Companies with corporate values in rapidly growing present a new vision that can change the world, widen the competitive gap with other companies and have ranked first. “There is a common thing in the fact that it has established itself as a company,” he said. SK affiliates should seek recognition of high business value by modifying their business portfolios to focus on future growth businesses. “
An SK Group official said: “The business environment is not easy next year, but we hope this person will serve as a foothold to take a leap forward by carrying on the financial history we have prepared so far.” “We will do our best to grow as a global company that becomes a global company.”
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