SK executives to hold strategic meeting on growth, AI and reorganization

SEOUL, June 13 (Yonhap) -- SK Group, South Korea's second-largest conglomerate by asset, said Friday it will hold a strategic management meeting to review its ongoing business reorganization and discuss future growth initiatives. Around 30 executives, including Chairman Chey Tae-won, from the group's key affiliates will participate in the annual meeting, which will take place from Friday to Saturday at the SKMS Research Institute in Icheon, about 50 kilometers southeast of Seoul, according to a company spokesperson. SKMS, or SK Management System, is the group's core management philosophy, emphasizing fundamental principles and operational efficiency. The executives are expected to assess the progress of the group's business rebalancing initiative, launched a year ago to address inefficiencies and financial strain stemming from heavy investments in its battery and energy sectors. The rebalancing strategy centers on selection and concentration, organizational control and financial stability. As part of these efforts, the number of SK affiliates has decreased from 219 last year to 198 this year through the consolidation of overlapping business operations. Executives are also expected to discuss strategic investments in artificial intelligence (AI) and advanced semiconductor technologies, which SK views as key growth drivers for the national economy. The meeting is also likely to address efforts to restore consumer trust following a recent data breach at SK Telecom that may have compromised the personal information of approximately 25 million users of the country's leading mobile service provider. The breach, first detected on April 18, involved a significant leak of universal subscriber identity module (USIM) data. In response, SK Telecom has offered to replace the USIM cards of all affected subscribers free of charge, in an effort to prevent identity theft and financial fraud. "The details of the meeting will be disclosed on Sunday," the spokesperson said. This undated file photo provided by SK Group shows its headquarters in central Seoul. (PHOTO NOT FOR SALE) (Yonhap) kyongae.choi@yna.co.kr(END)

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SEOUL, June 13 (Yonhap) — SK Group, South Korea’s second-largest conglomerate by asset, said Friday it will hold a strategic management meeting to review its ongoing business reorganization and discuss future growth initiatives.

Around 30 executives, including Chairman Chey Tae-won, from the group’s key affiliates will participate in the annual meeting, which will take place from Friday to Saturday at the SKMS Research Institute in Icheon, about 50 kilometers southeast of Seoul, according to a company spokesperson.

SKMS, or SK Management System, is the group’s core management philosophy, emphasizing fundamental principles and operational efficiency.

The executives are expected to assess the progress of the group’s business rebalancing initiative, launched a year ago to address inefficiencies and financial strain stemming from heavy investments in its battery and energy sectors.

The rebalancing strategy centers on selection and concentration, organizational control and financial stability.

As part of these efforts, the number of SK affiliates has decreased from 219 last year to 198 this year through the consolidation of overlapping business operations.

Executives are also expected to discuss strategic investments in artificial intelligence (AI) and advanced semiconductor technologies, which SK views as key growth drivers for the national economy.

The meeting is also likely to address efforts to restore consumer trust following a recent data breach at SK Telecom that may have compromised the personal information of approximately 25 million users of the country’s leading mobile service provider.

The breach, first detected on April 18, involved a significant leak of universal subscriber identity module (USIM) data.

In response, SK Telecom has offered to replace the USIM cards of all affected subscribers free of charge, in an effort to prevent identity theft and financial fraud.

“The details of the meeting will be disclosed on Sunday,” the spokesperson said.