SK E&S

  -Establishing a ‘Task Force for a New Energy Industry’ under the SUPEX Council
  -Yu Jeong Joon, CEO of SK E&S, assigned to the first president of the task force
  -A preemptive response to a future energy paradigm…Concentrating each subsidiary’s new energy  business capability

SK Group has selected a new energy sector as a future growth drive and decided to concentrate all capabilities of SK Group and its subsidiaries. In order to achieve this, it made a decision to set up a ‘Task Force for New Energy Industry’ under the SUPPEX Council.

SK Group announced that, in order to secure next generation growth drives and initiatively respond to the change of future energy paradigm, it selected a new energy sector as a next key project and decided to establish a task force that can promote this. 

SK Group explained the reason for choosing the new energy sector as a new growth drive. As the significance of a new energy sector is drastically growing in accordance with a new paradigm of future energy resulted from global climate changes, it will become a national-level of new growth drive of SK Group and energy related companies at home and abroad.

In particular, this new energy sector matches up with SK Group’s New Year’s resolution, ‘SK Group will set up strategies and make an investment toward social and economic development of Korea as well as the profit of SK Group.’

An official of SK Group explained, “As the convergence and combination of energy and ICT are rapidly accelerating in the new energy sector, IT companies such as Google and Softbank, let alone traditional energy companies such as oil refineries and power generation companies, are making an entrée into the new energy market. Through the establishment of a task force, we will promote various partnerships with Korean small/medium businesses as well as world famous companies with excellent technologies.”

In accordance with this recognition, CEOs of SK Group, including Chairman Chey Tae-won, SK chemicals’ Vice Chairman Choi Chang-Won, ICT Chairman Yim Hyung-Kyu, and Yu Jeong Joon (Chairman of SK Global Growth Committee and CEO of SK E&S), had attended the Davos Forum, especially meetings with global energy companies and new energy-related sessions.

As a first step, SK Group decided to establish an exclusive team ‘Task Force for New Energy Industry’ (hereunder task force) under the Global Growth Committee of SUPEX Council.

Yu Jeong Joon, Chairman of Global Growth Committee and CEO of SK E&S, was assigned to the first president of the task force team. President Yu, who had worked for SK innovation and is currently CEO of SK E&S, has many experiences on various energy projects of SK Group and is leading resource development and diversification of energy source.

Even though the group is starting off as a task force team, it has been decided to expand and reorganize it into a ‘Special Committee for New Energy Industry’ in order to gain momentum, after the preparation is complete.

First of all, the task force team will set up mid to long-term plans and strategies as a think tank, and provide information to subsidiaries, which are promoting early stage new energy businesses, in order to create synergy effects.

SK Group is expecting that this project will be able to contribute on exploring new energy business targeting new climate system, which was introduced during the COP21 in Paris in the end of 2015. SK Group will drastically upgrade subsidiaries’ new energy capabilities in order for them to lead the industry. At the same time, it will prepare for detailed measures to promote this project by creating an organically converged and combined model of ICT and energy/logistics.

President Yu Jeong Joon said, “The establishment of the task force team represents SK Group’s will for new energy and shows its plan to actively participate in ‘2030 New Energy Industry Expansion Project’ promoted by Korean government. SK Group will focus on fostering this as the next generation growth drive.”