¦ Emphasized boldly advancing and continuing to pursue sustainable growth despite challenging business conditions in the new year
¦ Focus on uniting all OC and CIC units, management, and employees, strengthening open innovation (O/I) through AI/DT, and enhancing execution capabilities based on SKMS
As the New Year 2025 begins, Park Sang-kyu, CEO of SK Innovation, called on Operating Company (OC) and Company-in-Company* (CIC) units, management, and employees to unite all capabilities and resources to overcome current challenges and continue fostering sustainable growth.
* Company-in-Company (CIC): a structure that allows business units to operate independently within a larger organization, enhancing agility and innovation while utilizing shared resources.
In a letter sent to SK Innovation affiliates on January 2 (KST), CEO Park predicted “another challenging year ahead” in the business environment, characterized by “geopolitical volatility, intensifying global polarization and bloc formation,” and an economic slowdown.
CEO Park stated, “However, even in these precarious times, we must move forward boldly, harnessing the strength of SK Innovation.” He then outlined key initiatives for sustainable growth.
CEO Park emphasized the importance of unity, stating that “The most crucial factor in overcoming current challenges and achieving sustainable growth is the unified effort of all management, team leaders, and members of all OC and CIC units, management, and employees must come together as “One Innovation.” He stressed the need to harness the unique strength of SK's spirit of collaboration.
He also stated that through the merger with SK E&S, “SK Innovation has achieved structural innovation, establishing a balanced energy portfolio to maintain our leadership in the energy industry.” He further encouraged “concentrating the capabilities and resources of SK Innovation and its affiliates to create tangible synergies and secure profitability and growth.”
He announced the implementation of the “SUPEX 2030” vision, which aims to clearly define the direction for SK Innovation affiliates and serves as a focal point for uniting all members' efforts.
CEO Park further stated that the company will enhance operational improvement (O/I) capabilities through artificial intelligence (AI) and digital transformation (DT).
Last year, SK Innovation achieved meaningful business innovation results by leveraging AI and digital transformation. This year, the company plans to take it a step further by pursuing specific initiatives such as business model innovation, enhancing productivity and reliability, and establishing an optimal decision-making system.
CEO Park conveyed to the members, “These AI and DT capabilities will be powerful tools for enhancing your future competitiveness and creating innovative business models.”
He continued, stating, “We will further develop the company into a better place to work, based on the SK Management System (SKMS).” He emphasized to the members to “cooperate in building strong execution capabilities toward ambitious goals through Paegi** and the SUPEX spirit,” along with “the efforts of mutual respect, seeking the best value through practical exploration, and empathetic perspective-taking.”
**Paegi (Paegi): a Korean term meaning ambition and drive to pursue ambitious goals with boldness and determination.
In closing, CEO Park stated, “As One Innovation, let us nurture active and determined hope together, laying solid stepping stones for our future leap.” “Let’s overcome the waves of change and create a new chapter in history.”