Choi Chang-won, the Trusted Person for Choi Tae-won, as SK's Closer

"Serious in Actions and Words," According to Those Around Him
Workaholic Disposition + Active Communication
Leading SK's Shift to Future Businesses
Baseball Enthusiast Who Built the SK Dynasty in Pro Baseball

Choi Chang-won, Vice Chairman of SK Discovery, is set to be appointed as the chairman of the SK Supex Council, known as the 'second-in-command' of SK Group. Amid complex crises and challenging internal and external business environments, Chairman Choi Tae-won has chosen his most trusted close associate. What is Chairman Choi’s intention in suddenly selecting someone who has independently developed his own domain rather than overseeing the entire group? And why did Vice Chairman Choi respond to the call?

Vice Chairman Choi is Chairman Choi Tae-won’s ‘cousin.’ The late Choi Jong-gun, founder of SK Group, had three sons: the late Choi Yoon-won, Choi Shin-won, and Choi Chang-won. When Choi Jong-gun passed away from lung cancer at the age of 47 in 1973, his younger brother Choi Jong-hyun took over the company. At that time, Choi Yoon-won was studying in the United States, and Choi Shin-won was serving in the Marine Corps. Born in 1964, Choi Chang-won was only ten years old. Fifteen years later, in 1998, when Choi Jong-hyun died of lung cancer, the group’s management rights passed to Chairman Choi Tae-won. It is known that Choi Yoon-won willingly agreed because he highly evaluated the capabilities of his ‘cousin’ Choi Tae-won.

The reason why management conflicts between the cousins have not intensified until now can be found in this ‘brotherly affection.’ Now, 25 years later, Chairman Choi Tae-won has extended a hand to his ‘cousin.’ Just as his cousin elder brother once recognized his management abilities, it is interpreted that he now acknowledges Vice Chairman Choi Chang-won’s capabilities. Vice Chairman Choi has been with the group for 30 years since joining the Management Planning Office of Seongyeong Industry (now SK Chemicals) in 1994. He has worked at SK Chemicals, SK Construction, and SK Gas, and was appointed Vice Chairman of the holding company SK Discovery in 2017. He is the largest shareholder of SK Discovery, holding 40.2% of shares (excluding preferred shares). However, he does not hold shares in SK Inc., the holding company of SK Group.

Those who have met Vice Chairman Choi describe his actions and words as serious and thoughtful. He is meticulous in handling tasks and has a ‘workaholic’ tendency that reportedly makes employees nervous whenever he receives reports. He is also known for active communication with employees and is highly respected by those who have worked with him. He has independently managed the holding company system, which includes subsidiaries such as gas, chemicals, and D&D, for the past six years, leading the transition to future businesses such as eco-friendly materials and renewable energy. While creating and maintaining independent domains between cousins, they have cooperated on a larger scale.

A commemorative photo taken on November 13, 2018, at Jamsil Baseball Stadium in Seoul, where the four SK Group heirs watched Game 6 of the Korean Series. From the left, then Vice Chairman Choi Chang-won of SK Discovery, Chairman Choi Shin-won of SK Networks, Chairman Choi Tae-won of SK Group, and Senior Vice Chairman Choi Jae-won of SK Group. Photo by SK Group

The phrase that describes this SK Group management style is ‘together yet apart.’ A ‘baseball enthusiast,’ Vice Chairman Choi once led the SK Wyverns dynasty. Upon becoming the team owner in 2014, he revealed, "I wanted to become a baseball player during middle and high school. When Korean professional baseball started in my senior year of high school, I remember watching only baseball instead of studying. My mother was very worried." While leading the team, he established a foreign manager system with General Manager Yeom Kyung-yeop in 2017 and led the team to win the Korean Series for the first time in eight years the following year. However, judging that baseball did not align with the group’s future business, he played a decisive role in the sudden sale of the team in 2021. Personal affection was not very important when making decisions for the entire organization.

In the business community, it is interpreted that although Vice Chairman Choi could have separated the affiliates, it would have been difficult to ignore Chairman Choi Tae-won’s call for help. Although a professional management and board-centered governance system has been established, the management capabilities of family member Vice Chairman Choi can be a great asset. Chairman Choi Tae-won has borne full responsibility through various personal challenges and management crises, including the 2003 Sovereign crisis. This indicates the need for someone to overcome crises together. During the recent failed bid for the ‘2030 World Expo,’ Chairman Choi emphasized new changes and innovation.

This SK personnel move is analyzed as preparatory work for that change and innovation. There is also interest in what changes this personnel move will bring to SK Group’s succession structure. In an interview with a foreign media outlet last October, Chairman Choi said, "If I have an accident, who will lead the group? I have been thinking about and preparing for that issue (succession). I have my own plan, but it is not yet the stage to disclose it." It can be seen that in the process of thinking about and preparing for succession, he chose a trustworthy family member, his cousin, to entrust the company.