What Is Chey Tae-won's Management Strategy in the 'Corona Era'?

SK Group Holds Expanded Management Meeting on the 23rd

[Image source=Yonhap News]

[Asia Economy Reporter Park So-yeon] Chey Tae-won, Chairman of SK Group (photo), presented 'corporate value' as the key management theme to prepare for the post-COVID-19 era at the '2020 SK Expanded Management Meeting' held on the 23rd at the SKMS Research Institute in Icheon, Gyeonggi Province.

The Expanded Management Meeting, held every June, is the largest-scale management meeting where SK Group's major affiliates' CEOs, including Chairman Chey, gather in one place to establish the core management strategies for the year. Considering the COVID-19 situation, this meeting was conducted in a hybrid format combining online and offline participation. Essential personnel such as Chairman Chey, Chey Jae-won, Senior Vice Chairman of SK Group, Chey Chang-won, Vice Chairman of SK Discovery, Cho Dae-sik, Chairman of the SK Supex Council and seven committee chairpersons, and CEOs of major affiliates attended in person, while executives from key affiliates participated via video conference.

On this day, Chairman Chey emphasized the need to contemplate SK's value and role amid the unprecedented crisis of COVID-19, putting corporate value at the forefront. He also stressed to the affiliate CEOs the importance of establishing the group's core values and growth strategies to be upheld during the ongoing crisis posed by COVID-19.

By affiliate, SK Innovation announced business structure changes centered on the keyword 'eco-friendly,' while SK Telecom presented plans to create new businesses focusing on future technologies such as artificial intelligence (AI).

Additionally, discussions were held on growth strategies from a financial perspective as alternatives to overcome the management crisis. Instead of bold investments, existing investment outcomes were reexamined, and broad opinions were exchanged on investment strategy plans for new growth sectors such as SK Materials and SK Biopharm. Updates on research and development status of COVID-19 vaccines and therapeutics, centered on SK Chemicals and SK Bioscience, were also shared.

A senior SK Group official stated, "The social value pursued by SK Group is essentially a methodology to enhance the economic value of the company," adding, "In this era of social and economic crisis caused by COVID-19, we are researching solutions that SK Group can provide, and through this, various ways to pursue corporate profits were widely discussed."

Meanwhile, SK Group is conducting a public subscription for general investors of the listed 'big fish' SK Biopharm from the 23rd to the 24th. The total public offering amount was confirmed at 959.3 billion KRW, and the market capitalization based on the offering price was set at 3.8373 trillion KRW.

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