SK Group headquarters in downtown Seoul. (Photos: SK Group)

SK Group Chairman Chey Tai-won speaks at the 2018 CEO Seminar at The Annex Hotel in Jeju from Oct. 17 to 19.

SK Group’s executives got together at the 2018 CEO Seminar at The Annex Hotel in Jeju from Oct. 17 to 19 and discussed ways of innovating business models based on social values.

In particular, SK Group Chairman Chey Tai-won and other top managers presided over sessions as moderators to share causes and implications of stumbling blocks facing associates with CEOs and to find practical solutions.

The meetings involving SK CEOs was designed to share the need to strengthen the execution of “Deep change” to survive a rapidly changing business environment, to enhance the creation of social values, to accelerate innovation of business models, and to overhaul human resources and R&D regimes.

Chairman Chey said, “Now that all SK CEOs share the need for deep change, it is more important (for us) to categorically ponder how to do it and put it into practice.”

“Our changing and innovating of business models that have been accepted as a matter of course or believed to have a sustainable competitive edge is the starting point of deep change.” he added.

Chey called for innovative business models based on social values as soon as possible.
“Social values are not only a foundation to gain unlimited trust from society and customers, but also a core element to heighten each company’s whole values beyond economic values.” he said.

In a speech at the opening session of the forum, Chairman Cho Dae-shik of the SK Supex Council said, “Companies which purse sustainable growth through pursuit of social values have turned out to be a global trend of having a competitive edge in terms of business performances and attracting investments.”

SK Group needs to enhance the execution of upgrading management to pursue economic and social values to rise to a super-global company, he added.

Among approximately 70 SK executives and officials on hand at the seminar were SK Group Chairman Chey, SK Group Executive Vice Chairman Chey Jae-won, SK Discovery Vice Chairman Chey Chang-won, and SK Supex Council Chairman Cho and seven committee vice chairmen and CEOs.

From day one of the seminar, participating SK CEOs reaffirmed that the important methodology of deep change is management to pursue social values, as SK Chairman Chey stressed and they took stock of the outcomes of management on the pursuit of social values the group has so far implemented and things to be complemented in the future.