SK E&S

 Vice Chairman and CEO Yu Jeong-joon of SK E&S Selected as the First Chairman of Energy Alliance
SK E&S announced that its Vice Chairman and CEO Yu Jeong-joon was selected as the first chairman of Energy Alliance, a private sector–led association launched on April 6.
Prior to the launching ceremony held on that date, the CEOs of 10 private companies, including SK E&S, GS Energy, POSCO Energy, Hanwha Energy, DL Energy, Doosan Heavy Industries & Construction, Hyundai Motor, Hyosung Heavy Industries, E1, and Hyundai Research Institute, held discussions and selected Yu as the first chairman of the alliance.
In addition, the CEOs of the 10 participating companies signed a memorandum of understanding (MOU) on mutual cooperation needed for the establishment of Energy Alliance and decided to actively cooperate and respond for carbon neutrality and energy switch.
The alliance was launched because the members perceived the need to build a private sector–led governance system in the energy field and prepare a channel for discussions on the future direction of the entire energy industry in tandem with the global decarbonization trends. It is the first time that private Korean companies have created a voluntary alliance for carbon neutrality.
“With the launching of the Energy Alliance, I expect Korean energy companies to take on the challenging task of carbon neutrality and simultaneously create new growth engines by fostering new energy industries, among others,” said Korean Minister Sung Yun-mo of Ministry of Trade, Industry and Energy, who attended the launching ceremony.
In addition, Fatih Birol, executive director of the International Energy Agency (IEA), sent his congratulatory message through a video in which he said, “It is definitely not easy to reach net zero and all the more difficult in the COVID-19 situation. … I am pleased to support the efforts made by the government of the Republic of Korea and its private companies to realize net zero.”
“Major global countries and companies are endlessly competing to dominate in advance the carbon-neutral era. … As a manufacturing stronghold, the carbon-neutral trend will definitely have an enormous impact on Korea that I will work hard to build a new governance system of the energy industry,” Yu said.
Yu is expected to be officially appointed during the general assembly of the alliance’s inauguration expected to be held next month.