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SK Group Gears Up for Strategic Planning Amidst Crisis

Top Executives to Focus on AI and Semiconductors During Key Annual Meeting
South Korea
s 034730.KO s 000660.KO s 096770.KO Mid and Small Cap 2000 Blue Chip 150 OM 60 Semicon 75 Tech 350
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SK Group is set to hold its crucial 2024 management strategy meeting from June 28 to 29 at the SKMS Research Institute in Icheon, Gyeonggi Province. This pivotal event will gather approximately 30 key executives, including Chairman Chey Tae-won, who will join via video conference from the United States.

The meeting aims to address the current challenges facing SK Group, particularly the temporary stagnation in demand for its next-generation growth engine, the battery business. The agenda will center on rebalancing the business structure with a focus on artificial intelligence (AI) and semiconductors.

Chairman Chey Tae-won, alongside senior executives such as SK Innovation Senior Vice Chairman Chey Jae-won, SK Supex Council Chairman Chey Chang-won, and CEOs of major affiliates like SK Corp., SK Innovation, SK Telecom, and SK Hynix, will strategize on securing maximum investment resources for future growth areas. An SK official highlighted the expected need for significant investment in AI-related business areas, including high-bandwidth memory (HBM), over the next 2-3 years.

The extended two-day meeting underscores its importance, with discussions planned on improving operational efficiency and maximizing profitability. This includes potential mergers, such as integrating SK Innovation with SK E&S, and selling shares of SK IE Technology to secure resources.

Additionally, the meeting will focus on reinforcing SKMS, SK Group’s unique management system established in 1979. SKMS has been instrumental in navigating past crises and driving significant mergers and acquisitions. The agenda will continue to be discussed at the Icheon Forum in August and the CEO Seminar in October, ensuring alignment with the group’s long-term strategic goals.

This year’s strategy meeting is particularly critical as SK Group navigates through a challenging business environment, aiming to solidify its leadership in the AI and semiconductor sectors.

 

 

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