'Choi Jaewon Close Associate' Choi Youngchan, SK On President, Moves to SK E&S... To Lead Future Growth Division

North America Maintains Leadership Position in 'Passkey'

Choi Young-chan, SK On's Chief of Management Support and a key figure in SK Group's finance and strategy, is moving to SK E&S. This is interpreted as part of the group's rebalancing (restructuring) efforts.

According to business circles on the 28th, Choi will assume the position of President of Future Growth at SK E&S starting next month on the 1st. He will continue to hold the position of CEO of 'PASKY,' SK E&S's North America business division, which he has concurrently managed since last year.

Since 2022, Choi has overseen major initiatives at SK On, including the establishment of overseas joint ventures (JVs) and global fundraising. With this personnel change, he is expected to support the group's 'qualitative growth' strategy through solid management of its green and energy businesses.

Recently, amid discussions about the potential merger of SK Innovation, the parent company of SK On, and SK E&S as part of the 'Save SK On' strategy, further personnel changes and organizational restructuring are anticipated. Previously, Choi Jae-won, Senior Vice Chairman of SK Innovation and younger brother of SK Group Chairman Chey Tae-won, also moved from SK On to SK Innovation.

Born in 1965, Choi is also known as the 'right-hand man' of Senior Vice Chairman Choi. He began his career in 1994 at the Management Support Office of Korea Mobile Telecommunications (now SK Telecom), which SK Group acquired. He has held various positions including head of the International Finance Office at SK Telecom's Finance Headquarters, head of the Strategic Planning Group at SK Broadband, head of Corporate Business Strategy at SK Telecom, and Chief Secretary at SK Inc. Notably, since 2011, he has served as Chief Secretary at SK Inc., gaining the trust of Senior Vice Chairman Choi.