Chairman Choi to Review Recent Global Economic Situation with Key Group Executives at Seorin Building, Seoul on the 7th
Choi Tae-won, Chairman of SK Group, urged the group’s chief executive officers (CEOs) to "heighten our senses and respond swiftly" amid the increasingly fierce competition among countries in future core industries such as AI, semiconductors, and energy solutions, stating that "the global business environment is challenging."
SK Group announced on the 8th that Chairman Choi Tae-won emphasized this during a meeting held on the 7th at the Seorin Building in Jongno-gu, Seoul, with major affiliate CEOs and group executives to review the global business environment. Attendees included Choi Chang-won, Chairman of the SK Supex Council; Vice Chairman Yoo Jung-joon (CEO of SK Americas); Vice Chairman Seo Jin-woo (Head of SK China External Cooperation); Jang Yong-ho, President of SK Inc.; Park Sang-gyu, President of SK Innovation; Yoo Young-sang, President of SK Telecom; and Kwak No-jung, President of SK Hynix.
During the meeting, Chairman Choi and others assessed the impact of the November U.S. presidential election, the September Japanese prime minister election, concerns over a U.S. economic recession, geopolitical risks, and the prolonged economic slowdown in China on global business, and discussed response strategies by business and market. Chairman Choi stated, "Our task of proactively responding to uncertain changes in the business environment while rapidly strengthening competitiveness in core businesses such as AI and semiconductors is not easy, but it is something we must undertake," adding, "I will lead by example and work even harder."
He further urged, "Since the AI, semiconductor, and energy solution businesses that SK operates hold important positions in terms of national economy and security, let us enhance business competitiveness and expand the business ecosystem with a strong sense of mission and pride." An SK Group official said, "Despite his busy schedule, Chairman Choi often holds weekend meetings to share opinions and seek countermeasures with executives when there are important and timely agendas at the group level."
Chairman Choi, who also serves as the Chairman of the Korea Chamber of Commerce and Industry, has been actively representing the Korean business community domestically and internationally this year, meeting with global big-tech CEOs in the U.S. and other countries to derive cooperation plans, continuing his extensive management activities related to AI and semiconductors.
After meetings with big-tech leaders such as Nvidia, OpenAI, Microsoft, Amazon, Intel, and TSMC in the U.S. and Taiwan in April and June, Chairman Choi has also conducted on-site management by visiting SK Hynix twice by August to check the competitiveness of HBM.
On the 5th, he met with leaders of both ruling and opposition parties at the National Assembly to request bipartisan support and cooperation for advanced industries such as AI and semiconductors, where competition among countries is intensifying, as well as for solving energy and carbon neutrality issues.
Earlier, on the 3rd, he met with a delegation of U.S. senators visiting Korea to request bipartisan support for Korean companies including SK Group and exchanged broad opinions on ways to enhance economic cooperation between the two countries.
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