Jodaesik SK Supex Chairman "This Year Is the First Year of Financial Story Execution"

Order to Achieve Results That Society Can Empathize With
Ensuring Safety Nets for Internal Members and External Stakeholders Facing Difficulties Due to Prolonged COVID-19 Pandemic

[Asia Economy Reporter Hwang Yoon-joo] Cho Dae-sik, Chairman of the SK Supex Council, emphasized that this year should be the inaugural year for executing the 'Financial Story' and that market trust must be further strengthened. The Financial Story is SK Group's strategy to elicit trust and empathy from stakeholders such as customers, investors, and the market through a growth story that includes not only traditional financial performance like sales and operating profit but also attractive goals and concrete execution plans. Chairman Chey Tae-won has been emphasizing this as a key management theme since last year.

According to SK on the 27th, Chairman Cho presided over the first Supex Council meeting of the year the day before and said, "Simply presenting a story about growth vision does not lead to an increase in corporate value," adding, "We must have execution capabilities faster than the pace of changes in the management environment and present and implement a Financial Story that stakeholders can empathize with, continuously accumulating results." Chairman Cho's emphasis on executing the Financial Story at the first Supex Council meeting this year is interpreted as reflecting the urgent need for a leap forward based on market trust. Earlier this year, SK Inc., jointly with SK E&S, invested $1.5 billion (1.6 trillion KRW) to become the largest shareholder of Plug Power, a U.S. company holding core hydrogen business technologies, receiving favorable market reviews.

Regarding ESG (Environmental, Social, and Governance) management, which SK is promoting as a key pillar of the Financial Story, Chairman Cho stated, "Meeting the indicator standards presented by credit rating agencies is not reaching the goal but merely standing at the starting point," emphasizing, "Only when many stakeholders can tangibly feel the results of ESG management will the market truly recognize our efforts."

Additionally, Chairman Cho requested careful attention to the return of COVID-19 confirmed cases and reiterated the importance of a safety net for all stakeholders. He said, "If COVID-19 prolongs, the most vulnerable parts of our society could collapse," adding, "Since last year, SK has been strengthening the safety net for all stakeholders with new warp and weft."