SK chairman pledges growth at New Year’s event

SK Group chairman Chey Tae-won reaffirmed his pledge to take the lead in overcoming structural difficulties to achieve growth in 2016 during his first official appearance of the year in Seoul on Monday.

Chey made the remarks during SK Group’s New Year’s event, attended by some 500 high-level executives including CEOs of SK’s key affiliates.

It was his first public appearance since causing a stir last week by admitting to an affair and revealing plans to leave his wife, as well as his first participation in the annual event in three years after being released from prison through a presidential pardon in August 2015.

“Last year, SK Group posted more than 10 trillion won ($8.4 billion) in net operating profit for the first time since its foundation,” said the SK chairman, who heads South Korea’s fourth-largest conglomerate.

“However, many uncertainties are expected to rise this year both domestically and internationally. Though highly concerned, SK, led by me and our CEOs, will work to transform this crisis into new opportunities and contribute to the growth of the country’s economy,” Chey said.

The SK chairman -- who has remained silent since making his personal affairs public last week -- evaded the media Monday, entering and leaving the venue through an undisclosed entrance to avoid being questioned.

“Chairman Chey decided to enter the venue through an independent passageway on worries that his personal matters may disrupt the group’s most important business pledge event of the year,” a SK Group spokesperson told reporters Monday morning.”

The SK chairman had announced through a letter released on Dec. 29 his plans to end his relationship with his wife, Art Center Nabi director Roh Soh-yeong, and take full responsibility for a child, reportedly 6 years old, born through an extramarital affair.

“I’d like to put away all anxiety regarding my misdeeds and direct all my energy toward serving customers, clients, shareholders, partnering firms and the South Korean economy,” he had written.

During his New Year’s speech, the SK chairman also ordered all individual affiliates to “build up an upgraded management system tailored to differing market conditions” while urging synergies between all SK affiliates.

Chey called for the expansion of a company culture based on trust and honesty, and emphasized a “persevering spirit” in driving forward the growth of SK Group and the Korean economy to overcome upcoming difficulties.

In the meantime, the chairman is likely to focus on “field management” as planned. Chey visited SK hynix’s chipmaking plant in Icheon, Gyeonggi Province, Saturday, the group said.

The SK chief is scheduled to partake in a New Year’s event hosted by the Korea Chamber of Commerce and Industry on Wednesday as well as the 2016 World Economic Forum in Davos, Switzerland, on Jan. 20-23.

By Sohn Ji-young (jys@heraldcorp.com)