South Korea’s SK Group will push forward with its ‘business rebalancing’ initiative that focuses on enhancing competitiveness in the electric vehicle batteries and green businesses.

The decision was made during the group’s SUPEX Council meeting on Tuesday, which was chaired by Chey Chang-won, who heads the council, and which 20 chief executive officers of key SK subsidiaries, including SK Inc. CEO Jang Yong-ho and SK innovation Co. CEO Park Sang-kyu attended.

The SUPEX Council is the highest consultative panel within SK Group, and the CEOs of major affiliates meet once a month to discuss pending issues within the group.

At the meeting, the CEOs discussed the group’s direction and plans to rebalance its business portfolio, an initiative that has been underway since the beginning of 2024. Chey and the CEOs shared the view that there have been shortcomings in predicting and responding to changes in the business environment in certain affiliate businesses.



Major group affiliates have been promoting business portfolio adjustments by launching various task forces (TFs) since the beginning of 2024.

“We will do our best to enhance corporate value and strengthen financial strength by actively expressing our opinions at the board meeting to improve the value of our affiliate companies,” SK Inc.’s Jang said.

“We are making every effort to optimally allocate limited resources by rigorously evaluating SK innovation’s affiliate portfolio from various aspects, including past and present performance, future prospects, and profitability,” SK innovation CEO Park added. “We aim to maximize profitability in the existing energy and chemicals businesses by optimizing operations, and to enhance competitiveness in SK on Co.’s battery business.”

Chey stressed that better opportunities will come if each company sets clear goals and specific plans that are successfully implemented. “Let‘s continue to build a stronger SK that meets the expectations of shareholders, employees, and other stakeholders by continuously increasing our business competitiveness and corporate value,” he added.

By Chung Seung-hwan and Yoon Yeon-hae

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