SK Sets Its Sights on 300 Tln Won Market Cap, Global Reach
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SK Sets Its Sights on 300 Tln Won Market Cap, Global Reach
Each of the Group’s subsidiary’s management makes its own decision and takes responsibility for outcomes

31(Thu), Jan, 2013

CEOs and other executives of SK Group subsidiaries pose for a group photo session at a New Year’s gathering at the Walker Hill Hotel in Seoul on Jan. 2. 

SK SUPEX Committee Chairman Kim Chang-geun said in his New Year’s message on Jan. 2, “The Year 2013 marks the 60th anniversary and the first year of implementing the new operating system, Independent Yet United 3.0.” The new regime calls for realizing a target of 300 trillion won in corporate value and the group’s determination to continuously create greater happiness for all its stakeholders, Kim added. 
Late last year, Kim, then vice chairman of SK Chemical, took office as the chairman of the SK SUPEX Committee, the group’s highest decision-making body, replacing Group Chairman Chey Tae-won. His promotion to chairman of the committee is significant since SK Networks, the successor of Sunkyung Textile Co., marks the 60th anniversary of its founding this year. 
SK Group set a mid- and long-term target of attaining 300 trillion won in capitalization, a far cry from the current 68.5 trillion won. 
SUPEX Committee Chairman Kim said, “Autonomous, responsible, innovative management, based on the Independent Yet United 3.0 regime, is designed to create greater happiness despite the difficult management environment.” He added, “The premise is that we have to explore new growth engines in the global market and we must carry out the task of maximizing corporate value through the creation of sustainable management outcomes.” 

SK SUPEX Committee Chairman Kim Chang-geun gives a speech at a 
New Year’s gathering at the Walker Hill Hotel in Seoul on Jan. 2 
at which executives and staff from SK Group subsidiaries were on hand. 

In particular, he stressed independent management on the part of each subsidiary to make the new operating system successful. Each company should improve management outcomes, such as sales and profits, and evolve such things as human development that will ultimately lead to the development of management capabilities and of corporate value, he said. 
Emphasizing the importance of group staff members' unity, he said they will be able to translate many more tasks into solutions toward development paths if they join forces in inheriting SK Group’s corporate culture °™ SKMS and SUPEX °™ and put them into action. 
Unlike in previous years, Group Chairman Chey did not attend the New Year’s gathering, which attracted some 500 SK Group CEOs and staff, but instead he sent his New Year’s video message from Beijing, stressing the significance of global growth through innovation under the new operating system. The New Year’s meeting was televised live via a companywide broadcasting system to all 70,000 SK executives and staff members.

SK Group held the second CEO seminar at the Acadia Training Center in Gwangjang-dong, Seoul, attended by CEOs of major affiliates and outside directors on Nov. 18, 2012. At the seminar, they decided to enforce the new operation system, Independent Yet United 3.0, after confirming internal implementation measures.  
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