"Drastic innovation and Strong Corporate Culture” are the management buzzwords for the year 2016. SK Business Group promised to overcome the current crisis through endless innovation and strong corporate culture at an annual CEOs’ seminar on Jeju Island on Oct. 30.
All eyes were on the CEOs’ seminar in which SK Group Chairman Chey Tai-won participated for the first time in three years. Also attending the event were Chairman Kim Chang-keun of the SUPEX Committee; Chairman Im Hyung-gyu of the ICT Committee; Chairman Chung Chul-gil of the Strategy Committee and concurrently president of SK Innovation; Chairman Yoo Jung-joon of the Global Growth Committee and concurrently president of SK E&S; SK Telecom President Jang Dong-hyun; SK Hynix President Park Sung-wook and SK Holdings President Cho Dae-shik.
The participating CEOs of the meeting concurred on the need for pursuing drastic innovation, which breaks the conventional mold, and a strong corporate culture to survive the crisis.
SK Group Chairman Chey declared his determination to continuously implement the “Apart and Together 3.0” strategy.
“Despite the difficult situation, SK Group has been keeping going since the SUPEX Committee plays a pivotal role in maintaining the Apart and Together 3.0 strategy,” he said. “The Apart and Together 3.0 strategy has proved to be the best option on governance we have conceived.”
He called for the participants to continuously evolve.
Chairman Chey also urged the participants to come up with steps to cope with youth joblessness and polarization issues.
SK Group has regularized the CEO seminar. In particular, the 2015 meeting took on significance as Chairman Chey tours operation sties and makes overseas trips. He has been drawing up master plan for the group’s future course after returning to management two months ago.
SK Group Chairman Chey declared the new SK vision at the CEOs’ seminar in October 2014. The 2015 CEOs’ seminar took stock of each subsidiary’s 2016 growth and discussed ways of developing the Apart and Together 3.0 strategy.
The Apart and Together 3.0 strategy, which made its debut, calls for each subsidiary company’s independence management and the operation of the SUPEX Committee, the business group’s apparatus, to help each subsidiary’s management. Chey announced the so-called Jeju Declaration in which the initial Apart and Together 1.0 strategy version, calling for the restructuring of financially unsound companies, was unveiled at a CEOs’ seminar in Jeju in 2002. The Apart and Together 2.0 strategy, which was inaugurated five years later in 2007, called for the group’s shift to a holding company system.
_SK 최태원 02.jpg)
SK Group Chairman Chey Tae-won participates in the CEO’s seminar on Jeju Island on Oct. 30. (Photos:SK Group)
The business group
During the following five years, the business group saw exports surge from 20 trillion won in 2007 to 158 trillion won in 2012, a triple fold jump in sales. SK inaugurated the Apart and Together 3.0 strategy as the previous version deepened dependence on the holding company. The Apart and Together 3.0 strategy calls for dramatically transferring decision-making rights to each subsidiary and autonomous responsibility management.
On the first day of the 2015 CEOs’ seminar, the participants shared each subsidiary’s current status of the implementation of projects and future plans, they took up ways of creating synergic effects on the second day, and they handled corporate culture and social contributions on the third and final day before Group Chairman Chey put his finishing touches on the meeting.
_SK 최태원 03.jpg)
