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SK carries out modest reshuffle amid lingering uncertainties

Dec. 1, 2022 - 18:07 By Jie Ye-eun
SK Square CEO Park Sung-ha (left) and SK Biopharmaceuticals CEO Lee Dong-hoon

SK Group, the nation’s second-largest conglomerate, appears to be seeking stability rather than drastic changes in the face of economic uncertainty, as it carried out a modest year-end leadership reshuffle across affiliates.

SK Supex Council, the group’s top decision-making body, said its Chairman Cho Dae-sik will extend his two-year term again for a fourth time since he took the post in a unanimous vote among council members in 2017.

The council, however, replaced the heads of the five committees: SK Siltron CEO Jang Yong-ho as head of the environmental business committee; SK Telecom CEO Ryu Young-sang for the ICT committee; SK Enmove CEO Park Sang-kyu for the human resources development committee; Lee Hyung-hee for the communication committee; and SK Energy CEO Cho Kyung-mok as head of the social value committee.

With the group’s top brass retaining their jobs, some SK companies now have a new CEO.

SK Square, the investment arm of the conglomerate, named Park Sung-ha, former CEO of SK C&C, as its new CEO. He has served several positions at key affiliates, including SK Telecom and SK Inc.

He especially played a key role in carrying out the group’s megasized deals together with Vice Chairman and SK hynix CEO Park Jung-ho. With the appointment of a new CEO, the SK hynix chief is more likely to focus resources into deals related to chips.

SK C&C will have Yoon Poong-young, SK Square’s chief investment officer, as new CEO.

SK Biopharmaceuticals, an SK-affiliated drugmaker, also named Lee Dong-hoon, head of the bio investment center of SK Inc., as its new CEO who also oversees its US affiliate, called SK Life Science.

SK Telecom CEO Ryu Young-sang will continue to lead the telecom giant as well as taking the top post at SK Broadband, while SK Chemicals and SK Discovery swapped CEOs.

Meanwhile, SK Networks‘ managing director Choi Sung-hwan will be promoted to lead the general trading arm of the group. He is the oldest son of Choi Shin-won, former CEO and chairman of the company.