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SK Telecom Park President Jung-ho was promoted to SK Group HR Vice President on the 3rd, and became SK Hynix Vice President.
President Park Jung-ho, while leading SK Telecom, expanded his portfolio of new businesses such as media, commerce, security and mobility in addition to the mobile communications (MNO) business, showed the vision of a large technology company and hired the management of SK Hynix, assuming the supervisory structure of the ICT affiliates of the SK Group. I got it.
With the announcement of IPOs in new business areas under SK Telecom, the position of SK Hynix vice president and SK Telecom representative director should be a full-fledged signal for the transition to a large intermediate technology holding.
■ Hynix in Telecom, the starting point for the reorganization of the ICT governance of the SK Group
The reorganization of SK Telecom’s governance structure has been a debated task for many years. It has looked into various possibilities, such as physical division or human division, and it’s not a year or two to think about finding the best time for SK Telecom’s move to an intermediate holding.
The basic concept is a method of dividing into investment holding and telecommunications companies through the physical division of SK Telecom.
Under SK Holdings, an investment holding company that oversees ICT affiliates, and under the holding, SK Telecom’s MNO, as well as a new business field that has been intensively promoted as a reserve subsidiary and semiconductor company, Hynix.
Although a few years have passed since such a concept was developed within the SK Group, a long agony continued as SK Telecom’s stake in SK Hynix did not reach 30%. This is because it is difficult for SK Telecom, which currently holds a 20% stake in Hynix, to buy a stake in Hynix with trillions of won.
The reorganization of governance, which has been discussed over the years, is taking shape in recent years. Since March last year, he has served as chairman of the board of SK Hynix and has shared the positions of chairman of the board of directors and management with SK Hynix CEO Lee Seok-hee.
It is explained that driving Hynix with this group salute will shift the weight to overall management.
This reflects the fact that President Park Jung-ho has already been deeply involved in the Hynix business because it is possible to manage the semiconductor business with SK Telecom.
President Park led the Hynix acquisition through a strategic merger and acquisition within the SK group and was at the forefront of SK Hynix’s acquisition of the Japanese stake in Toshiba in 2017. It is known that SK Hynix recently took a lead role in the acquisition of Intel’s NAND flash business.
■ SKT’s new business will be announced below … Maximizing business value
The notable moment is the moment when President Park Jung-ho took full control of SK Hynix.
Rather than take over SK Hynix, the vice president’s CEO system, in line with the timeline to be promoted to vice president simply by considering the position within the group, it is estimated that he will take over the management of both companies when the IPO begins in earnest. of the important new business of SK Telecom.
In August, when SK Telecom announced the purchase of its own shares worth 500 billion won, it paid for a reorganization of its governance structure and IPOs of several new businesses are underway.
The IPO of the new business is expected to increase SK Telecom’s business value and it has been revealed multiple times that the company is focusing on expanding branches with size and growth in order to convert into an intermediate holding.
The fact that the new business becomes a separate subsidiary with capacity via IPO is an essential factor in the transition to an intermediate holding. In addition to the MNO division of SK Telecom and Hynix Semiconductor under the holding, it is necessary to have a company with separate profitability and a growth vision.
In other words, if the dependence on a specific sector of activity is great, the significance of the transition to holding weakens, so it is necessary to change the structure into a structure capable of producing performance in each sector.
The share prices also predict that the subsidiary’s 20 trillion won value will begin to reflect in the first half of next year. If One Store, a service subsidiary of Appmarket, has a business value of 2 trillion won, it will reflect 20 trillion won adding 15 trillion won in corporate value and investor asset value of subsequent IPO target companies.
The SK Telecom branch IPO seemed to have been delayed a bit due to the special market environment of Corona 19 this year, but One Store announced a full-fledged IPO starting next year after completing the selection of the listed host company.
ADT Caps and Tbroad, recently acquired by SK Telecom, are also considered laggards as IPOs have attempted to maximize business value through IPOs.
ADT Caps, a physical security business unit, also completed work to maximize business value through a merger with SK Infosec, an information security business unit within the SK Group. Tbroad, the cable TV business unit, is in synergy with SK Broadband IPTV business.
Furthermore, the OTT wave service, which was introduced in collaboration with a terrestrial broadcaster, is a preliminary player in the media sector along with SK Broadband.
The 11th, which was separated from SK Planet in 2018 as a separate subsidiary, recently attracted investment from global operator Amazon. SK Store, which is responsible for SK Telecom’s business activities such as data home buying business along with 11st Street, has moved from SK Broadband to SK Telecom.
The mobility sector, selected as a new core business through the most recent spin-off, has also led to investments by Uber, a global operator, in the midst of business development centered on T-map.
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In addition to SK Telecom’s five core business areas, SK Telecom’s reorganization has opened up the possibility of further spin-offs.
For example, the fact that the infrastructure center was moved under the MNO business unit is read to mean that a business unit was seen as a preliminary separate company. Furthermore, the fact that the organization name was changed from the AI services group to AI & Company and the T3K technology development organization was organized around business elements can be interpreted as an opening to the possibility of a spin. preliminary-off.
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