Choi Tae-won’s First Global Move of the Year is the Davos Forum

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Introducing Successful Cases of Applying Social Value Enterprises at the Switzerland Forum from the 21st to 24th

[Asia Economy Reporter Park Soyeon] Choi Tae-won, chairman of SK Group and a 'social value evangelist,' chose the Switzerland World Economic Forum (WEF, Davos Forum), the world's largest economic forum, as his first global move this year.

According to the business community on the 2nd, Chairman Choi will attend the Davos Forum in Switzerland from the 21st to the 24th to introduce social value, a sustainable growth methodology, and successful cases of applying it to actual companies.

The Davos Forum is an international private meeting held annually in January or February in Davos, Switzerland, attended by prominent businesspeople, economists, and politicians worldwide. The issues discussed at this forum have a significant impact on international economies such as the World Trade Organization (WTO) and the Group of Seven (G7).

Chairman Choi introduced the concept of pursuing social value at the Davos Forum seven years ago and has continuously researched methodologies that can be applied to actual corporate management, such as social value measurement and incentive introduction.

He is conducting a grand experiment on a corporate social value creation model that uses a company's technological capabilities and capital to solve humanity's pressing problems and link them to business performance.

Last year, SK Group developed tools to measure the social value of companies and organizations and reflected these in year-end executive evaluations, achieving some results in systematizing and commercializing social value.

The total social value created by SK Group last year was 834.8 billion KRW. This includes 773.4 billion KRW in economic indirect contributions such as employment, dividends, and taxation; 55 billion KRW in business social performance generated through product development, production, and sales; and 6.4 billion KRW in social contribution social performance such as donations and volunteer work.

Chairman Choi plans to share these social value promotion methodologies and achievements with global corporate leaders at this year's Davos Forum. He will also meet with global company representatives in ICT, semiconductors, energy, and bio sectors during the forum to explore new growth engines.

To support this, key CEOs of major affiliates, including Choi Jae-won, SK Group's senior vice chairman and Chairman Choi's younger brother, will accompany him.

An SK official said, "Starting with this forum attendance, Chairman Choi plans to attend the China Boao and Shanghai forums, as well as the Beijing and Tokyo forums in the second half of the year, to spread SK Group's mid- to long-term social value."

This content was produced with the assistance of AI translation services.