SK Innovation names new CEO, executive president

South Korea’s leading energy company SK Innovation announced Wednesday that it has appointed Choo Hyeong-wook, head of its power and liquefied natural gas unit SK Innovation E&S, as its new CEO.

The decision was made at a board of directors meeting earlier in the day, following the resignation of CEO Park Sang-kyu due to health reasons, the company said.

Choo will carry forward the corporate realignment efforts initiated under Park’s leadership while continuing in his role as CEO of SKI E&S. The company also appointed Jang Yong-ho, CEO of SK Inc. and a current board member of SK Innovation, as an executive president to support Choo in restructuring and investment operations.

“The board appointed current executive members as CEO and executive president to quickly stabilize the organization and ensure the seamless continuation of the company’s business strategy,” an SK Innovation official said.

According to the company, Choo’s top priorities include the ongoing integration of SK Innovation and SK E&S, turning around the performance of its battery subsidiary SK On and improving results in its energy and chemical businesses.

Choo, who became CEO of SK E&S in 2021, has driven the company’s growth by focusing on green energy technologies, including low-emission liquefied natural gas, renewable energy, energy solutions and hydrogen.

Following the merger of SK E&S into SK Innovation in November 2024, where SK E&S now operates as a company-in-company, Choo has continued to lead efforts to generate synergy between the two entities.

The newly appointed executive president, Jang Yong-ho, is a veteran investment strategist within the group. He previously led key initiatives in SK’s semiconductor and semiconductor materials businesses, the company said.