[New Business World 3rd and 4th Generation] ① Cousins Choi Chang-won and 3rd Generation Choi Yoon-jung Take Center Stage in SK Management Amid Crisis

Choi Chang-won, Chairman of the SK Supex Council, has effectively become the second-in-command of SK Group with this personnel appointment. He plays the role of best understanding and disseminating Chairman Choi Tae-won's philosophy. In particular, his cousin Choi Chang-won, the Vice Chairman, is analyzed to actively communicate closely with Chairman Choi and reflect his philosophy and directives throughout the group's management. Choi Chang-won, the youngest son of the late Choi Jong-gun, the founding chairman of SK Group, is four years younger than Chairman Choi Tae-won, born in 1960, and one year younger than Choi Jae-won, SK Senior Vice Chairman and Chairman Choi's younger brother, born in 1963.

Born in 1964, Vice Chairman Choi joined the group in 1994 as a manager in the Group Management Planning Office and has been with SK Group for 30 years. After becoming CEO of SK Chemicals in 2007, he has been serving as CEO of the intermediate holding company SK Discovery since 2017, leading SK's chemical and bio businesses. He is recognized for his expertise in planning and finance, excelling in discovering new businesses and business restructuring.

Vice Chairman Choi is the largest shareholder of SK Discovery (40.18%). He transformed SK Discovery from a company focused on chemicals, gas, and pharmaceuticals into one centered on eco-friendly materials, renewable energy, and bio sectors. SK Bioscience, established in 2018, succeeded last year in developing 'Skycovione,' the first COVID-19 vaccine developed by a domestic company. He majored in psychology and is deeply knowledgeable in the humanities, enjoying discussions with philosophy professors. He also trains his mind and body through meditation. In terms of work, he is regarded as a meticulous and numbers-savvy 'workaholic.'

Choi Tae-won's eldest daughter, Choi Yoon-jung, Head of Strategy at SK Biopharm's Global Investment Division, was promoted to Head of Business Development in this personnel reshuffle. She became the youngest executive in the group just seven years after joining.

Born in 1989, Choi Yoon-jung graduated from Beijing International High School in China and the University of Chicago with a degree in biology. During her undergraduate studies, she worked as a researcher at a brain science institute, gaining practical experience. She also interned at Harvard University's Physical Chemistry Research Institute and a domestic pharmaceutical company. From 2015 to 2017, she worked at global consulting firm Bain & Company before joining SK Group in 2017 as a senior manager (assistant manager level) in the Strategy Team of SK Biopharm's Management Strategy Office. After taking a leave of absence in 2019 to pursue a master's degree in bioinformatics at Stanford University, she returned in July 2021 to lead the Strategy Investment Team in the Global Investment Division.

After being promoted to Head of the SK Biopharm Strategy Investment Team in January this year, she personally participated in 'CES 2023,' the largest IT and home appliance exhibition, overseeing the SK Biopharm booth. Choi is particularly known for her strong interest in the digital therapeutics field.

Bio is considered one of SK Group's future growth engines (BBC), alongside batteries and semiconductors. Entrusting an important pillar of the group's new business to the eldest daughter, the other pillar, batteries, is overseen by Choi Jae-won, SK Senior Vice Chairman. Choi Yoon-jung also plays an active role in the new drug development task force (TF) jointly operated by SK, alongside SK Biopharm President Lee Dong-hoon and Strategy & Investment Division Head Yoo Chang-ho.

However, Choi Yoon-jung does not yet hold shares in the group companies. None of Chairman Choi Tae-won's three children hold shares in their own names, but they are broadly receiving management training within SK Group. Choi Yoon-jung became an executive ahead of her younger sister Min-jung, who is on leave, and her younger brother Choi In-geun, who is receiving management training in the U.S. There is interest in how this personnel appointment will affect the SK Group succession structure. In an interview with a foreign media outlet last October, Chairman Choi stated, "(Regarding who will lead) I have my own plan, but it is not yet the stage to disclose it."