Future Visions Envisioned by SK Group CEOs

[Asia Economy Reporter So-yeon Park] SK Group emphasizes that the role of future companies is to utilize their technologies to solve the problems facing humanity. Recently, CEOs of SK Group’s various affiliates have also announced one after another their goal to focus the entire company’s capabilities on solving social issues and becoming sustainable companies through this effort. What kind of future do SK Group CEOs envision?

◆Discovering Growth Opportunities through 'Green Business' = Kim Jun, Chief Officer of SK Innovation, announced plans to explore a new area called 'Battery as a Service' (BaaS), which integrates the entire value chain from battery production to recycling into a single platform.

In a recent internal interview, Kim emphasized, "By leveraging our battery business capabilities, we will seek new growth opportunities in the future industry beyond electric vehicle batteries (Beyond EV Battery)."

SK Innovation aims to achieve 'Green Balance 2030.' Kim stated that they will boldly increase investments in battery and materials businesses, which are representative green businesses, to expand their portfolio share.

Kim added, "We will also expand green business in existing petroleum and chemical sectors through the development of eco-friendly products and recycling."

To strengthen the execution of 'Green Balance 2030,' SK Innovation plans to form thematic design teams under a top team composed of affiliate CEOs to gather collective intelligence.

Kim said, "As e-mobility, an electric means of transportation, expands, SK Innovation holds the best solutions in all related fields such as batteries, ultra-light materials, lubricants, and display materials, and our synergy with affiliates is a strength. We will play a pivotal role in the future e-mobility business ecosystem."

◇Complete Overhaul to an Eco-friendly Business Structure = Cho Kyung-mok, CEO of SK Energy, stated, "We will proactively restructure our business toward eco-friendliness by developing new business models utilizing new technologies."

In an internal interview, Cho said, "Without consideration for the environment, securing a sustainable future is difficult. Traditional core businesses are increasing innovation intensity toward eco-friendliness in response to social demands."

Cho added that they will strengthen the 'green portfolio' by developing eco-friendly biofuels that drastically reduce carbon emissions and new business models using technologies such as carbon dioxide reduction.

Regarding the petroleum business downturn, Cho expressed a sense of crisis and said they are reviewing the entire business.

He mentioned, "We are pursuing business model innovation to turn the current crisis into an opportunity. We are improving margins at Ulsan CLX, innovating domestic marketing structures to strengthen competitiveness in existing businesses, and securing future growth portfolios."

He also revealed that a team including company leaders, including himself, is being formed to explore future new business opportunities.

Cho pointed to 'Homepick,' a new business combining shared gas station facilities with delivery, as a new growth area and said, "We will continue to discover new businesses through delivery and vehicle platforms."

◇SK Tackles the Plastic Problem = Na Kyung-soo, CEO of SK Comprehensive Chemical, is focusing on advancing the business portfolio, especially on solving the plastic issue.

In a recent internal interview, Na said, "This year, we will concentrate company-wide efforts to propose solutions to plastic issues and prove how pursuing eco-friendly social values can be linked to economic value creation."

They plan to actively respond to plastic waste issues from product design and grow as a leading packaging company not only in Europe and the U.S. but also in Asian markets.

Na said, "The automotive business has great opportunities in lightweight materials as the eco-friendly vehicle market, including electric vehicles, expands. We will expand high-value-added polypropylene (PP) products and secure in-house capabilities to resolve customer complaints, establishing differentiated competitiveness."

He added, "We are pursuing the development of optimal compound recipes desired by customers using digital technology and are also reviewing various options for global expansion, including partnerships with global companies."

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