SK Group Chairman Chey Tae-won.

SK Group is accelerating “deep change,” employing digital transformation, AI and other innovative technologies.
In particular, petroleum-based energy subsidiaries of the group are undergoing restructuring speedily.

SK Innovation has begun to make massive investments in core EV parts. A report from the EV battery market survey company SNE Research showed that SK Innovation saw its share in the global EV battery market jumping to 1.9 percent last year, almost double 1 percent recorded in 2018.

SK Innovation logged the highest growth rate among the global top 10 companies as the company grew up 167 percent in the first 10 months of last year, compared to the same period of the previous year. SK Innovation’s priority project is the construction of a second Chinese plant whose dedication is slated for 2021.

SK Hynix is building a semiconductor cluster with more than 50 Korean and foreign raw materials, parts and equipment makers.

The company, preparing a long-term vision of the Korean semiconductor industry, pursues realization of social values though co-prosperity, collaboration, and shared growth. SK plans to pour 120 trillion won to build four semiconductor fabrication and production plant units in 2022 or later when site building work is finished.

SK Group’s deep change will lead to the establishment of the tentatively named “SK University,” an integrated education & research platform combining the group’s think tank SK Management & Economic Research Institute and SK Academy, the group’s corporate culture education institution, designed to nurture the group’s deep change capabilities.

SK Telecom President Park Jung-ho and Samsung Electronics President Koh Dong-jin try out a cockpit of a car at Samsung Electronics booth installed at Conventional Center at CES 2020 in Las Vegas on Jan. 7. (Photos: SK Group)

SK Telecom President Park Proposes ‘Super Cooperation’ at CES 2020

At the press conference at CES 2020 on Jan. 8, SK Telecom’s CEO proposed “Super Cooperation” with diverse Korean ICT companies to achieve AI-driven innovations.

CEO Park said that SK Telecom has been already playing a pivotal role in realizing Super Cooperation with players of diverse industries, citing the birth of Wavve, an OTT video service jointly launched by SK Telecom and three Korean terrestrial broadcasters, as a meaningful result of this form of cooperation.

He met with Koh Dong-jin, President and CEO of Samsung Electronics, at CES 2020 to suggest Super Cooperation in AI.

Moreover, SK Telecom has also entered into a strategic partnership with Kakao, a leading mobile lifestyle company in Korea, to cooperate in AI. Park stressed that Super Cooperation will lead to valuable business opportunities in the global market through strengthened competitiveness in AI.

CEO Park said that SK Telecom is partnering with major global players, including Microsoft, Amazon Web Services (AWS), Deutsche Telekom and Sinclair Broadcast Group, to develop and offer powerful 5G services.

He also mentioned SK Telecom’s partnership with Byton, a Chinese EV maker, announced yesterday at CES 2020.
He emphasized that SK Telecom will continue to focus on building an enriched global 5G ecosystem through strengthened relationships with global companies.

 CEO Park said that SK Telecom will increase corporate value by adopting a new business management structure ‘Dual Operating System’ to maximize the performance of two main growth engines: Mobile Network Operations (MNO) Business and New ICT (Media, Security, Commerce) Business.

For its MNO Business, SK Telecom will introduce a wide range of new 5G use cases, while strengthening its business-to-business service offerings, to deliver true benefits of 5G.

He also announced vision for its New ICT Business: Achieving 10 million paid subscribers in Media Business; exceeding KRW 1 trillion in revenue in Security Business through convergence (physical & information) security services; and positioning as a game changer in commerce industry through domestic and international partnerships.

Park concluded his press conference by saying that SK Telecom is rapidly shifting itself from a mobile operator to Total ICT Company backed by strong growth of its New ICT businesses, which take up around 40% of SK Telecom’s consolidated revenue.