SK focuses on stability in end-year executive reshuffle amid uncertainty

Cho Dae-sik, chairman of SK Supex Council [Photo provided by SK]

SK Group, South Korea’s second largest conglomerate, has chosen stability during this year’s annual executive reshuffle on Thursday, with modest changes in leadership amid escalating global uncertainties.

Cho Dae-sik, chairman of SK Supex Council, the group’s decision-making body to drive growth, will retain his position to serve his fourth two-year term to becom the organization’s longest serving chair. He has led the council since 2017. Under his continued leadership, the council will expand its role to help other affiliates move to advance into international markets.

SK networks promoted its managing director Choi Sung-hwan, who is also the eldest son of former chairman Choi Shin-won, as president of the firm, heralding a generational change in the family-owned company’s leadership. SK Inc. promoted Executive Vice President and Chief Financial Officer Lee Sung-hyung to head the company.

SK Square, an investment firm that holds SK hynix and Tmap Mobility as its subsidiaries, replaced its CEO Park Jung-ho, with Park Sung-ha, SK C&C CEO. Park Jung-ho will step down but will keep his top position at SK hynix. SK hynix also reshuffled its organization focusing on establishing fast tracks in decision-making.

SK innovation named new chiefs of its affiliates, including Park Sang-hyu, general manager of SK networks, as CEO of SK enmove, and Kim Chul-joong, head of SK innovation’s portfolio division, as president of SK ie technology.

SK E&S Vice Chairman Yu Jeong-joon was appointed to lead SK Group‘s public relations in North America and serve as the CEO of PassKey, a U.S. subsidiary of SK E&S for the energy solutions business. As a result, SK E&S CEO Choo Hyeong-wook became the sole leader of the energy firm.

SK Chemicals and SK Discovery swapped their CEOs. SK Chemicals CEO Jeon Kwang-hyun was moved to SK Discovery, while SK Discovery CEO Ahn Jae-hyun took the helm at SK Chemicals.