Hwang Il-moon, CEO of SK Rent-a-Car, "Building a Growth Foundation for the Electric Vehicle Business... Will Continue to Enhance Value"

34th Annual General Meeting Held
Last Year's Sales Surpassed 1 Trillion Won
Partial Amendment of Articles of Incorporation to Expand O2O Vehicle Management and Customer Customized Services

Hwang Il-moon, CEO of SK Rent-a-Car, giving a greeting at the 34th shareholders' meeting.
Photo by SK Rent-a-Car

[Asia Economy Reporter Yoo Hyun-seok] SK Rent-a-Car announced on the 28th that it held the 34th regular general meeting of shareholders at the Samil Building in Jongno, Seoul, and approved the agenda items including approval of financial statements, partial amendment of the articles of incorporation, and appointment of directors as originally proposed.

Despite the ongoing COVID-19 situation last year, SK Rent-a-Car surpassed 1 trillion KRW in sales for the first time in its history. On a consolidated basis, sales reached 1.0369 trillion KRW, with an operating profit of 79.1 billion KRW.

Along with steady growth in the long-term rental business, the short-term and used car markets also experienced a boom. As the automobile consumption trend shifted from 'ownership' to 'usage,' and new car deliveries were delayed due to semiconductor supply issues, the number of long-term rental customers increased as an alternative to vehicle purchases. This also led to a favorable used car market. With the continued impact of COVID-19, short-term rental users, especially centered around Jeju, also increased significantly.

On this day, SK Rent-a-Car added 'location information business' as a business purpose. Through this, the company plans to directly collect data to ensure stability and provide customized services to customers. Additionally, to strengthen competitiveness by expanding O2O (Online to Offline) vehicle management services and to promote related new business models, 'telecommunication sales brokerage' was also added.

With this, SK Rent-a-Car will further refine the services of its integrated vehicle management solution 'SmartLink.' Moreover, in collaboration with 'Karang,' an O2O platform company for on-site vehicle maintenance in which it invested shares last November, the company plans to concretize O2O on-site maintenance services using its vehicle management app 'SmartCare.'

Regarding the appointment of directors, Lee Ho-jung, Head of New Growth Promotion Division at SK Networks, was newly appointed as an outside director. Lee Ho-jung recently led SK Networks' investment in 'EverOn,' an electric vehicle charging operator. He is expected to play a key role in evolving SK Rent-a-Car into a mobility rental specialist company centered on electric vehicles in connection with its parent company. Additionally, directors Park Hae-sik and Kim Byung-ok, whose terms expired, were reappointed as outside directors, and the activities of the audit committee, which was launched for the first time last year, will continue.

Hwang Il-moon, CEO of SK Rent-a-Car, said to shareholders, "We plan to focus on building a growth foundation for electric vehicle service business, innovating online-centered business models, and internalizing ESG amid the rapidly changing mobility industry." He added, "We will continue to do our best to grow as a company that provides customers and society with a more advanced mobility life and maximize shareholder value."

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