SK Chairman Chey Tae-won: "Solutions to Complex Social Challenges Require a Shift in Thinking and Structure"

Held at COEX in Gangnam, Seoul for Two Days, August 25-26
"2025 Korea Social Value Festa" Opens
Chairman Chey Highlights the "Social Performance Incentive" Model

"We are currently facing complex social challenges such as the climate crisis, polarization, low birth rates and an aging population, and job transitions. Since we can no longer create sustainable solutions with the same mindset that caused these problems, it is now necessary to shift both our thinking and our structures."

On August 25, Chey Tae-won, Chairman of SK Group, delivered this opening address via video at 1 p.m. at COEX in Gangnam-gu, Seoul, during the "2025 Korea Social Value Festa."

On the 25th, Chey Tae-won, Chairman of SK Group, delivered the opening address via video at 1 p.m. at COEX in Gangnam-gu, Seoul, during the '2025 Korea Social Value Festa.' Social Value Institute

Chairman Chey cited SK's Social Performance Incentive (SPC) experiment, which has been promoted for the past ten years, as an example. He emphasized, "What is important in the process of solving social problems is to establish a sophisticated system that can objectively measure social performance," adding, "At the same time, it is essential to create a structure that provides proportional and differentiated rewards to those who achieve these results, according to their level of contribution."

He continued, "All sectors-businesses, civil society, and government-must participate in creating such a structure," and stated, "A society where social performance is properly evaluated and rewarded will become Korea's new growth strategy."

The "2025 Korea Social Value Festa," held over two days from August 25 to 26, significantly expanded its exhibition scale and extended the event duration to two days compared to its inaugural year. Over 230 exhibition booths and more than 50 sales booths have been set up, with tens of thousands of citizens expected to visit. The Social Value Institute presented a model for solving social problems that organically connects policy proposals, market model presentations, and hands-on experiences by operating the Leaders Summit, Environmental Protection Credit (EPC) sessions, and citizen participation booths in an integrated manner.

At the "Leaders Summit" held that afternoon, leaders from various sectors gathered to discuss "Performance Management and Global Trends in Solving Social Problems." In the session titled "New Solutions for Carbon Neutrality: EPC," hosted by the Social Value Institute, discussions were held on supplementing existing carbon reduction systems, which focus on direct carbon reduction and the Emissions Trading Scheme (ETS).

During the Festa, the Social Value Institute is operating an interactive promotional booth designed to communicate the core concepts of SPC in an easy and engaging way. The booth allows citizens to experience the process of "creating and being rewarded for social value."

Na Seokkwon, President of the Social Value Institute, said, "This Social Value Festa was a meaningful occasion where leaders and citizens from Korea and abroad confirmed that social value is no longer a choice, but a core element of national competitiveness." He added, "Having proven through ten years of SPC experiments that social performance can be fairly measured and rewarded, we will now explore the potential for EPC compensation and trading in the global environmental market."