Park Jin-hoe Appointed as Chairman of SK Innovation Board of Directors

Consecutive Election of 'Outside Director as Board Chair' for the Second Time

SK Innovation announced on the 20th that outside director Park Jin-hoe has been appointed as the new chairman of the board.

Chairman Park, born in 1957, graduated from Seoul National University with a degree in Trade, earned an MBA from the University of Chicago Booth School of Business, and a Master's in Economics from the London School of Economics (LSE). He previously served as the CEO of Citibank Korea. He was first appointed as an outside director of SK Innovation in March last year, where he contributed to exploring sustainable development strategies for SK Innovation through the board's Future Strategy Committee and the Personnel Evaluation and Compensation Committee, as well as establishing a fair personnel system.

With the appointment of Chairman Park, SK Innovation's board continues the outside director chairman system that began in March 2019 when then outside director Kim Jong-hoon was appointed chairman. The appointment of an outside director as chairman of SK Innovation's board over the past four years has been praised for laying the foundation for outside directors' expertise and insight to make a practical contribution to company management and for firmly establishing board-centered management.

Jinhwe Park, the new chairman of the board at SK Innovation [Photo by SK Innovation]

The SK Innovation board unanimously agreed that Chairman Park, with his experience and capabilities as a former CEO of a financial company, is the right person to further strengthen the board's independence and expertise, and is expected to contribute to the development of SK Innovation Group's financial story, global management, and growth.

Chairman Park recently appeared on SK Innovation Group's internal broadcast and said, “SK is an image of a ‘young company’ that looks to the future, takes on challenges, and achieves success. Board-centered management represents a major governance change that has yet to be fully realized in the domestic business community.”

He added, “At the shareholders' meeting this March, I planned and prepared a ‘dialogue with shareholders’ and will support efforts to ensure that the interests of members and stakeholders and the company's development bear good fruit.”

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