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Chey Tae-won |
SK Group will revamp its decision-making process in a bid to induce voluntary participation and the growth of subsidiaries, company officials said.
The plan was unveiled by group chairman Chey Tae-won, who said during the 2012 CEO seminar that the currently “vertical” decision-making process would be shifted to a “horizontal” one.
“We attained a surplus of all affiliates in 2005 and leaped again in 2007 by changing the group into a holding firm,” Chey told some 30 CEOs from each business unit.
He stressed that it is time to establish a growth platform, initiated by each affiliate, for the group’s third round of takeoff.
Details for the new management style will be mapped out in early December, according to group spokespeople.
Chey recently instructed some subsidiaries not to be afraid of challenging themselves and creating new things in the global market, citing Google and Apple as a prime example.
“There was no Google before Google, and no Apple before Apple,” he said in a written message to employees. “SK Planet should achieve the same.”
The chairman continued that he is optimistic that SK Telecom and SK Hynix will leap to an advanced level through synergy.
Some SK affiliates have been aggressive in tapping more overseas trade partners in Thailand, Turkey and Myanmar for joint resource development activities.
In Turkey, the group signed a memorandum of understanding with Dogus Group, a Turkish conglomerate giant that covers a multiple of sectors including finance, energy, automotive and construction.
In Thailand, SK had a head-to-head meeting with Pailin Chuchottaworn, CEO of PTT Group, a leading state-run Thai energy firm.
The two companies agreed to jointly create a $500 million investment fund and establish a joint enterprise on electronic commerce.
By Kim Yon-se (
kys@heraldcorp.com)
