SK Chae Jae-won Selected as 'Vision Leader' by Reuters... SK On Wins Award in Emission Reduction Category

Choi Jae-won, Senior Vice Chairman of SK Innovation

Choi Jae-won, Senior Vice Chairman of SK, was selected as a 'Visionary Leader' at the 'Automotive D.R.I.V.E 2024' hosted by Reuters. SK On became the first global battery manufacturer to receive an award in the emission reduction category.

According to industry sources on the 22nd, Senior Vice Chairman Choi was jointly awarded in the Reuters Automotive D.R.I.V.E Visionary Leader category alongside Jose Munoz, Chief Operating Officer (COO) of Hyundai Motor Global, and Joachim Mass, Chief Technology Officer (CTO) of Valeo Brain Division.

Automotive D.R.I.V.E, hosted annually by Reuters, recognizes companies and individuals worldwide who have demonstrated innovation and leadership in the automotive industry. The award categories include Diversity, Equity, and Inclusion (DEI) commitment, emission reduction, innovation, visionary leader, and women leader, with three companies or individuals selected in each category.

The organizers described Senior Vice Chairman Choi as "a role model of visionary leadership who has driven the growth of SK On, evolved from an oil and energy company." They added, "Under his leadership, SK On has established an electric vehicle battery belt in the southern United States, positioning itself as a global electric vehicle battery company. This achievement is the only case where a leader in electric vehicle batteries has emerged from a traditional oil company."

They continued, "Since December 2022, SK On has raised 4.8 trillion KRW through a pre-IPO, exceeding its target by 20%. Despite a challenging financial environment, it attracted significant investment, highlighting that the capital market recognizes his leadership and SK On's potential."

SK On was selected as an outstanding company in emission reduction alongside Sweden's premium electric vehicle brand Polestar and battery recycling specialist Ascend Elements.

The judging panel stated, "SK On is one of the key companies in the transition to electric vehicles," and praised "its foresight and courage in proactively investing in the battery sector." They added, "Efforts to reduce emissions through various means, including transitioning business sites to renewable energy, are positive signs that SK On is continuously evolving."

Senior Vice Chairman Choi was appointed as CEO and Senior Vice Chairman of SK On, established in 2021 through the physical division of SK Innovation's battery business, and has grown SK On into a global top-tier battery company. In June, he moved to SK Innovation to oversee the group's energy and green businesses.