[People人] "Breaking the Old Era's Rules" CEO Park Jeong-ho's 'Innovation and Dedication'

On the afternoon of the 3rd, Park Jung-ho, CEO, attended the 'Non-face-to-face Town Hall' held at SK Telecom's Euljiro headquarters.
[Image source=Yonhap News]

[Asia Economy Reporter Seulgina Jo] "Do you think our company is doing everything it should? I don't think so. It's time to break the old era's formulas."

Park Jung-ho, CEO of SK Telecom, can be summed up in one word as a 'gambler.' This is due to his bold temperament revealed through his past actions, such as leading the acquisition of the former Hynix during the height of the semiconductor crisis. However, executives who closely assist CEO Park unanimously describe him as "someone without boundaries or fixed ways of thinking." They explain that he is closer to an 'innovator' who pours out ideas that others haven't thought of and flexibly accepts better ideas. The results of innovations that transcend the barriers of the times, such as ultra-collaboration with Samsung Electronics and the launch of the native online video service (OTT) 'Wavve' in partnership with the three major terrestrial broadcasters, were born in this way.

◆ Bold Proposal for '2030 Employees to Also Make Decisions'= On the afternoon of the 3rd, SK Telecom's 'Untact (non-face-to-face) Town Hall Meeting,' which lasted a full four hours, fully showcased CEO Park's traits as an innovator. Appearing in jeans on a streaming broadcast, he answered employees' questions in the comments one by one and presented the path the company should take.

The 'old era's formulas' that CEO Park now insists must be broken can be summarized as the barriers between departments and organizations that separate product/service and work areas represented by mobile communications, and inefficient work methods. The self-reflection that "we are not doing everything we should" also started here. It is time to think about the role as a global leader who will lead the digital New Deal and the Fourth Industrial Revolution era, not just 탈 (?) telecommunications. This is also why he ordered a departure from the existing perspective that was obsessed with the number of mobile subscribers and market share.

In particular, what CEO Park emphasized was 'agile'?organizational agility and flexibility. He explained that SK Telecom will not become a 'dying organization' unless it breaks down the boundaries between departments and establishes a system where each individual has authority and can work, rather than a top-down command-and-control style. At this event, he made a bold proposal to have young digital generation employees in their 20s and 30s make decisions before service launches, attracting attention.

CEO Park continues to experiment with innovations that break the old era's formulas even in work methods. After implementing company-wide remote work for the first time among domestic large corporations following the spread of COVID-19, he is allowing all employees to commute to offices located 10 to 20 minutes from their homes instead of the headquarters. An SK Telecom official said, "The main point was to break the existing mindset and lead innovation in the Fourth Industrial Revolution era," adding, "This also connects with the previously proposed themes such as 'ultra-collaboration.'" This aligns with SK Group Chairman Chey Tae-won's message warning of sudden death, saying "Companies that do not change will die suddenly." Within the group, CEO Park is highly regarded as the CEO who best fits the so-called 'Deep Change' demanded by Chairman Chey.

◆ Interest in New Technologies and Corporate Social Responsibility= The area CEO Park is most focused on while leading SK Telecom is new technologies of the Fourth Industrial Revolution such as artificial intelligence (AI) and social contributions through them. Entering his second management term this year, CEO Park recently decided to invest in 'Nano-X,' a company with core medical equipment technology, entering the blue ocean of the medical imaging equipment market. The 'T-Edeuk Account,' launched together with KDB Industrial Bank and others, shows his determination not to lose the lead in 'TechFin' competition against Naver, Kakao, and others by breaking free from industry limitations.

CEO Park usually dislikes meetings where dozens of executives are gathered in one place to deliver instructions. He also avoids unnecessarily long or unnecessary meetings, preferring a 'brief and to the point' style. Instead, in relatively less rigid settings such as meal times, he boasts a wide range of interests. He suggests applicable areas while discussing various topics from overseas education cases to immigration policies and listens to the opinions of those present. Another SK Telecom official hinted, "He has many ideas and is creative."

Within the group, he is also known as 'Chairman Chey Tae-won's right-hand man.' He has built high trust with results that read the owner's intentions and move one step ahead. Recently, when a blood donation relay was held at SK Telecom headquarters, Chairman Chey made a surprise visit and participated, which is a representative example showing the close relationship between the two.

Internally, he also enjoys considerable trust from employees. Earlier, when an employee of a competing company posted an article about CEO Park on the workplace community application 'Blind,' SK Telecom employees' comments and recommendations saying "Our CEO is really a good person" attracted attention. The article at the time was about CEO Park's decision to implement company-wide remote work after the spread of COVID-19 and his orders to address the poor working conditions of call center, network, partner companies, and distribution network employees.