[CEO Rivals] Yu Young-sang, SK Telecom CEO Leading the Market through Communication and Collaboration

Editor's NoteThe CEOs of the three major telecommunications companies, who divide the Korean telecom market into three parts, are both colleagues running together toward Korea, the world’s number one information technology powerhouse, and competitors and rivals fiercely battling for market dominance. For a while, the three CEOs were in an awkward period of neither proper cooperation nor competition due to KT’s inability to appoint a new CEO. However, the situation changed with the emergence of Kim Young-seop as KT’s new CEO. Beyond being telecom companies, the common challenge for the three companies is to evolve into global big tech firms integrating digital technologies such as artificial intelligence (AI). Who will solve this challenge with better results? The signal for fierce competition has sounded again. We conducted an in-depth analysis of the three CEOs who are both colleagues and rivals. This installment focuses on Yoo Young-sang, CEO of SK Telecom.

Yoo Young-sang, CEO of SK Telecom, was born in 1970 in Sancheong-gun, Gyeongnam. He entered Seoul National University’s Department of Industrial Engineering in 1988. His seniors in the department include former KT CEO Koo Hyun-mo (class of 1981), a senior in the telecommunications industry, and Kim Beom-su, founder of Kakao and a first-generation venture entrepreneur (class of 1986). Yoo earned a master’s degree from the same university’s graduate school in 1994 and later completed an MBA program at the University of Washington in the United States.

He began his career at the Electronics and Telecommunications Research Institute (ETRI). During his time at ETRI, he worked in the Management Strategy Research Team and the Mobile Business Strategy Research Team within the Technology Strategy Research Division, authoring dozens of papers. After joining SK Telecom in 2000, he rose through the ranks: head of the Business Development Team in 2009, head of the Business Development Division in 2014, head of the Strategic Planning Division in 2016, and in 2018, Corporate Center Director and Chief Financial Officer (CFO), before assuming his current position.

Employees describe CEO Yoo as “the type who quietly does what is necessary for the company or himself.” He rarely communicates externally, such as through the media. While he may appear cold to outsiders, inside the company he is sincerely committed to 'communication.' He has set a goal during his tenure to “create a good company for juniors.” His aim is to build a pleasant company where soft and open communication flows among members.

One reason for this is the communication space called ‘The Lounge’ on the 31st floor of the headquarters. Here, employees can communicate, relax, and interact, and sometimes meet with CEO Yoo for informal conversations. The mere fact that such a space was created on the same floor as the CEO’s office hints at Yoo’s strong willingness to communicate.

To lower the communication barrier with employees, he reportedly keeps his office open for visits. However, there are very few cases of regular employees visiting the CEO’s office to talk. Instead, many employees jokingly complain that they felt “awkward” when Yoo approached them first in places like the elevator or the lounge to start a conversation.

Still, the trust from his juniors toward CEO Yoo is strong. A trophy behind his desk in the CEO’s office attests to this. It was made by his team members when he left the CFO position in 2019. The trophy is inscribed with the phrase “Oh Captain, My Captain James.” James is Yoo’s English name. His team showed their cleverness by using his English name instead of his title as CEO or president, as he prefers to be called by his English name. Among the many trophies Yoo owns, he cherishes this one the most.

Yoo’s communication skills began to stand out notably in 2012 when SK Telecom launched a project team to acquire Hynix Semiconductor. At that time, Park Jung-ho, then Executive Vice President and head of Business Development, was the project leader, and Yoo, as head of the Business Development Team, served as the project manager overseeing practical work.

Although semiconductors have now become a core business within the group, many questioned the growth potential of the business back then. Nevertheless, the bold acquisition strategy succeeded, with Yoo playing a significant role. He helped establish a horizontal communication culture among employees and introduced a culture of working in small project units, which increased employee engagement.

His ultimate management goal is to increase SK Telecom’s corporate value to over 40 trillion won by 2026. Currently, the company’s value is around 11 trillion won.

Yoo identified ‘artificial intelligence (AI)’ as the key to achieving this. Earlier this year, he announced a strategy to respond to the AI era by focusing on ▲ AI innovation in core businesses ▲ strengthening user relationships through AI services ▲ and spreading AI across industries. Following this strategy, SK Telecom has been expanding its AI business by launching the AI semiconductor ‘Sapeon’ and the personalized AI service ‘A.Dot.’

They are applying AI technology to their core mobile communication services to promote hyper-personalized services, and in the media sector, they plan to develop B tv into an integrated portal for various over-the-top (OTT) online video services. Additionally, they aim to innovate user relationships through personalized AI services like ‘A.Dot.’

CEO Yoo said, “We will also pursue global expansion based on telecom-specialized data and massive AI. We will uphold the pride of being Korea’s number one telecom company centered on customers, technology, and services.”

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