SKT CEO made vice chairman of SK hynix

Park Jung-ho, current chief executive officer of South Korea’s leading mobile carrier SK Telecom, has risen to the chief position of chipmaker SK hynix, the group announced Thursday.

According to SK Group’s organizational restructuring and executive reshuffling plan for 2021, Park was promoted to vice chairman of SK hynix as he retains the SKT CEO post.

“Synergy between ICT expert Park and semiconductors expert SK hynix CEO Lee Seok-hee is highly anticipated,” the group said in a statement.

Park is known as an expert on corporate mergers and acquisitions and a close aide to SK Chairman Chey Tae-won.

Since SK hynix is a subsidiary of SK Telecom, Park has been playing a significant role in major business deals involving the chipmaker.

SK hynix’s financial participation in Toshiba’s NAND business sale in 2018 was led by the SKT CEO.

“As convergence intensified in the ICT industry, Park would show the leadership that combines semiconductors and telecommunications altogether to create synergy,” said a statement released by SK hynix.

Another vice chairman promotion was made for Yu Jeong-joon, CEO of SK E&S. 

Yu would spearhead the group’s global businesses related to renewable energy and other energy solutions, the group said. Yu will also retain the CEO position.

SK E&S appointed Choo Hyeong-wook as co-CEO of the energy company.

Yum Yong-seop, head of SK Research Institute for SUPEX Management, was also promoted to president. Yum has worked to establish pan-group initiatives like Happy Management and Deep Change.

Yum’s role would be expanded to set new visions and tasks to speed up the group’s environment, society and governance management plan.

For the SUPEX Council, the groups’ control tower, the group created a governance committee for increasing transparency of the group’s governance and accelerating independent management of each affiliate centering on their boards. SUPEX President Yoon Jin-won will head the new governance committee.

The council also replaced the current energy and chemicals committee with a new committee on environment business. SK Innovation CEO Kim Jun will lead the committee.

“The restructuring plan for 2021 focuses on speeding up the financial stories of each affiliate, in which the companies provide future visions and growth plans for customers, investors and other stakeholders and build trust,” the group said.

By Song Su-hyun (song@heraldcorp.com)