Chairman Chey Tae-won: "If You Can't Read Changes After COVID-19, You Won't Survive Long Even If You Live"

Memorial Ceremony Held for Founding Chairman Choi Jong-geon and Former Chairman Choi Jong-hyun

[Asia Economy Reporter Hwang Yoon-joo] SK Group Chairman Chey Tae-won emphasized on the 8th that since he inherited the resilience to overcome crises from founding Chairman Chey Jong-geon and former Chairman Chey Jong-hyun, SK members should turn the current novel coronavirus infection (COVID-19) crisis into an opportunity for even greater advancement.

On the occasion of the group's 67th anniversary, Chairman Chey delivered a memorial speech via video conference, recalling, "The founding chairman and former chairman broke through by founding the company amidst the ruins of the Korean War, and overcame unprecedented economic crises such as two oil shocks and the IMF by putting the country first. Their lives themselves were a continuous process of overcoming crises."

Chairman Chey stated, "Through their lives, I witnessed that SK has made great leaps both quantitatively and qualitatively by overcoming crises," and urged, "With the fierce spirit, noble mindset, and solid resilience we inherited, let us not only overcome the COVID-19 crisis but also write a new history of great advancement once again."

In particular, Chairman Chey warned, "Since a completely different pattern will unfold after this COVID-19 crisis, if we fail to read the major trends and changes, even if we survive the crisis by luck, it will not last long."

He added, "This is also why we have long prepared for a 'deep change' that completely transforms our way of thinking about work and the way we conduct business."

Chairman Chey also emphasized, "SK must create a meaningful safety net that protects society." He highlighted the urgent need for SK members' belief in and practice of social value and happiness creation.

Chey Sin-won, Chairman of SK Networks, said, "SK has passed a long 67 years since its founding, but this number does not guarantee the future," and added, "Let us inherit the passion and boldness of the two chairmen and grow into a 100-year company armed with a new spirit of challenge."

He continued, "Overcoming the aftermath of COVID-19 together with stakeholders and finding ways to contribute to the nation is in line with the founding chairmen's spirit of serving the country through business," and urged, "I hope today's memorial ceremony will be an opportunity to reflect on SK's roots and founding spirit and to renew our resolve."

Since 2018, SK management has held Memorial Day at the SK Memorial Hall in Yongin, Gyeonggi Province, on April 8, the group's founding anniversary, to commemorate the Chey Jong-geon and Chey Jong-hyun brothers who founded and grew SK. However, this year, to participate in social distancing due to COVID-19, they joined via video conference from their respective offices and commemorated for about 30 minutes.

About 30 people attended the Memorial Day, including Chairman Chey Tae-won, SK Networks Chairman Chey Sin-won, SK Vice Chairman Chey Jae-won, SK Discovery Vice Chairman Chey Chang-won, family members, Cho Dae-sik, Chairman of the SUPEX Council, chairpersons of various committees, and CEOs of major affiliates.