[CES 2024] SK Chairman Chey rides roller coaster, has fortune told on Vegas show floor

At CES 2024, SK Group Chairman Chey Tae-won urged a quick business model revamp for the AI era, emphasizing the need for partnerships big solutions while admiring new technology at Samsung's and LG's booths.

SK Group Chairman Chey Tae-won, left and SK On Executive Vice Chairman Chey Jae-won, ride hydrogen fuel cell-powered train at the SK booth on Tuesday, local time. [JIN EUN-SOO]

LAS VEGAS — SK Group Chairman Chey Tae-won, in an interview at CES 2024, called for a swift business model shake-up for an AI era where market demands shift at a rapid pace.

“Business models that seem obvious should change,” said Chairman Chey to Korean press as he finished touring the tech trade show which opened its doors on Tuesday, local time, in Las Vegas.

“In order to overcome risks, we have to offer what the market wants instead of trying to do what we have been doing and what we have been good at. If necessary, transformation to a software company or to an AI company is possible. An era where you have to ditch business that has been done for tens of years is nearing.”

SK's Chey, on the previous day, attended Siemens CEO Roland Busch's keynote speech.

“I saw the keynote to see how well Siemens is doing, as it is a hardware-focused company implementing software. I saw if there is anything we can benchmark.”

Partnership, as much as business model change, is vital in the current era, according to Chey.

“One cannot take care of all solutions, and therefore partnering is needed,” the chairman said.

“How many partners one can secure and what versatile solutions one can provide [are important].”

Within the SK Group, Chey is emphasizing packaged solutions for clients, including those looking for AI-related products or services.

“Instead of each company having meetings with potential clients separately, there is a need to offer a comprehensive package,” he said.

Chey toured SK's booth, as well as those of Samsung Electronics and LG Electronics, on the morning of the show's opening day.

At SK booth he was joined by his brother Chey Jae-won, who is executive vice chairman of SK On, and other executives. The group experienced all five sections of the exhibition, which was set up like an amusement park. Chey rode a train powered by hydrogen fuel cells and had his fortune told by an AI which said he has an "emperor" luck.

At Samsung Electronics' booth, Chey took an extra interest in the company's newest transparent MicroLED display and AI robot Ballie. He asked a number of questions about the former, such as if one could “see through it [the microLED display panel] from the other side,” or if it could “be used as a glass for windows at home.”

SK Group Chairman Chey Tae-won experiences SK Group booth on Tuesday, local time, on the opening day of CES 2024 in Las Vegas. [SK GROUP]

At LG Electronics' booth, Chey rode the recently premiered Alpha-able mobility concept and was briefed on the company's upcoming vehicles.

When asked to comment on the booths, Chey said “It feels like we are really living in a world of AI, no matter if we like it or not.”

“AI applications have enhanced functions of products, and those products are newly creating a market,” he said.

BY JIN EUN-SOO [jin.eunsoo@joongang.co.kr]