SK On Lee Seok-hee "Voluntarily Return 20% of Salary Until Achieving Profitability"

Held First Executive Meeting After Inauguration
Urged Early Arrival, Discussion, and Strengthened Collaboration
Determined to Overcome Chinese Offensive and Achieve Comeback

Lee Seok-hee, the new CEO of SK On. Photo by SK On

Lee Seok-hee, the newly appointed CEO of SK On, has decided to voluntarily return 20% of his annual salary until the company achieves profitability.

According to the battery industry on the 31st, Lee Seok-hee, CEO of SK On, said at his first executive meeting since taking office on the 30th at SK On Gwanhun Campus in Jongno-gu, Seoul, "We are currently facing a crisis due to the US interest rate hike rally and the slowdown in market growth caused by the global economic recession," adding, "This year is a crucial 'turnaround year' for achieving profitability, and the CEO and executives must take the lead with a life-or-death commitment to overcome the crisis."

He encouraged executives to start work at 7 a.m. Lee said, "The role of executives is not to receive reports but to distinguish ownership of tasks and make decisions," and also urged for free discussions and strengthened collaboration between organizations.

Accordingly, SK On executives plan to utilize the morning hours secured by early arrival for work planning, communication among executives, and opportunities for self-development. However, to prevent early arrival of executives from increasing the workload of subordinate members, no reports or meetings will be held before official working hours.

This is interpreted as a determination to actively respond to internal and external environmental changes, lay the groundwork to become a global top 3 battery manufacturer, and achieve profitability within this year.

At the meeting, the CEO reportedly said, "Although SK On has achieved unprecedented rapid growth, we must overcome fierce competition from Chinese rivals and definitely achieve profitability," and urged, "We must secure research and development capabilities for the future and prepare for an initial public offering (IPO) without setbacks."

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