SK Inno President Park Sang-kyu: "We Will Review Our Portfolio to Achieve Greater Results"

Since Last February, Meeting with Executives and Employees
Clarifying Portfolio Review Goals and Vision While Calling for Innovation

Park Sang-gyu, President of SK Innovation, is giving a lecture at the PL (Professional Leader) workshop held on the 12th at Walkerhill Hotel in Gwangjin-gu, Seoul. Photo by SK Innovation

Since February, Park Sang-gyu, President of SK Innovation, has been meeting consecutively with all executives and employees, including executives, team leaders, and team members, explaining that once the portfolio review is completed soon, results will follow.

President Park emphasizes that the 'Carbon to Green' strategy, established in 2021 as the strategic direction of the SK Innovation group, is a predetermined future, and if all employees move forward with belief, greater achievements can surely be realized.

According to SK Innovation on the 17th, President Park has been holding relay workshops starting with a PL workshop for team leaders in February, followed by communication organizations composed of junior-level employees called iCON (innovation Communication ON), and executives.

At meetings with employees, President Park stated, "Since early this year, we have been conducting portfolio reviews to enhance the competitiveness of the SK Innovation group, and once the policy is prepared, we will hold sessions to share it." He repeatedly emphasized, "I am confident that the strategic direction is correct, and since SK Innovation has technology and talent, if all employees unite as one, there is nothing we cannot achieve."

Specifically, at the SK Innovation PL workshop held on the 16th at Walkerhill Hotel in Gwangjin-gu, Seoul, President Park said, "It is true that the electric vehicle market situation is not favorable due to recent declines in EV demand and worsening global business conditions, but considering the global climate crisis and electrification, the trend toward electric vehicles (EVs) is an inevitable future that will not change." He added, "At times like this, SK On must build competitiveness in five areas: price, technology, quality, customer management, good corporate culture, and excellent talent."

In particular, President Park urged, "Corporate management should be based on investments looking 5 to 10 years ahead, not just 2 to 3 years." He continued, "The oil and chemical businesses, which have become SK Group's main businesses, have also gone through difficult times, and since 'Carbon to Green' requires time for accumulation, we should not be too passive in the face of current difficulties but break through with ambition and courage."

At executive workshops held twice on the 4th and 11th, President Park explained, "Green tech businesses such as SK On and SK IE Technology are currently running breathlessly, facing an uphill climb around the 35km mark in a marathon." He added, "Since other competitors are in similar situations during this uphill phase, this can be an opportunity for us." He pointed out that if we turn this difficult period into a time to supplement our shortcomings, we can surpass competitors during the downhill phase in the future.

Regarding the oil and chemical businesses, he called for securing comparative advantages through operational optimization. President Park emphasized, "The oil business has a business cycle, and the chemical business is experiencing structural difficulties," adding, "Through price competitiveness and operational optimization, the oil and chemical industries must at least become the number one company in the Asia-Pacific region."

In the relay workshops held this time, President Park emphasized SKMS (SK Management System), SK's unique corporate culture that has overcome business crises and challenges, and urged leading challenges and innovation. He said, "The late founder of SK Group, Chey Jong-hyun, achieved vertical integration from textiles to oil after more than ten years of struggle, despite it being considered an unrealistic goal at the time." He pledged, "Just as SK Group has made quantum leaps during crises based on SKMS, as the top management of SK Innovation, I will lead by example and definitely produce results."