SK On Establishes Chief Business Officer Position... Hires Sung Min-seok, Former CEO of Hanon Systems

Marketing, Purchasing, and PM 담당

Sung Min-seok, Chief Commercial Officer (CCO) of SK On. Photo by SK On

On June 1, SK On announced the establishment of the Chief Commercial Officer (CCO) position and the recruitment of Sung Min-seok, former CEO of Hanon Systems. The company also carried out an organizational restructuring by placing marketing, purchasing, and PM (Project Management) business departments under the CCO.

Born in 1970, CCO Sung is an expert with nearly 30 years of experience in the automotive industry. He graduated from Korea University with a degree in Mechanical Engineering and earned an MBA from the University of Michigan in the United States. He began his career at Ford, a local U.S. automaker. Subsequently, he served as an executive in charge of global business strategy at Hanla Visteon Climate Control, the predecessor of Hanon Systems, and held positions such as Vice President of Product Group Strategy and Operations, Chief Operating Officer (COO), and CEO at Hanon Systems.

SK On established the CCO position to strengthen its response capabilities to business partners, namely automakers. The company plans to build the necessary processes, culture, systems, and organization to support this. Given Sung’s experience at Ford and his tenure as CEO at Hanon Systems, which supplies products to various global automakers, he is considered the ideal candidate for the CCO role.

SK On is one of the rapidly growing companies in the global battery industry. Its market share ranking has soared from 9th place in 2019 to 5th place currently. As the business expands, production bases have extended to the United States, Hungary, China, and other locations, with a total of eight factories currently operating and six more either under construction or planned.

The growth trajectory is expected to become even steeper. Battery production capacity is projected to reach approximately 89 gigawatt-hours (GWh) by the end of this year. Compared to 1.7 GWh in 2017, this represents a 52-fold increase in about six years. Production capacity is expected to grow to 280 GWh by 2025 and 500 GWh by 2030.

Revenue, which was about 690 billion KRW in 2019, is expected to exceed 15 trillion KRW this year, more than 20 times higher in just four years. As the number of customers increases with rapid growth, the need to strengthen response capabilities and improve customer satisfaction is also growing. An SK On official stated, "Through organizational restructuring and talent recruitment, we expect to enhance our response capabilities to existing customers and secure competitiveness in new orders."

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