SK chief convenes CEOs to inspect global businesses

SK Group Chairman Chey Tae-won stressed the need for a sharp focus and prompt response to evolving AI, semiconductors and energy solutions sectors during an executives' management review meeting held on Saturday, the Korean conglomerate said Sunday.

“Enhancing the competitiveness of our core businesses in AI and semiconductors while adapting to the evolving business environment is a formidable challenge, but one we must confront,” said Chey at the SK Seorin Building headquarters in Seoul.

“Our AI, semiconductor and energy solution projects are crucial for the national economy and security. Let’s intensify our efforts to boost our business competitiveness and expand our ecosystem with a strong sense of mission and pride.”

The management meeting was attended by key executives, including Choi Chang-won, chairman of the SK Supex Council; Yu Jeong-joon, vice chairman and head of SK Group's US Government & Corporate Affairs; Seo Jin-woo, vice chairman in charge of China business; SK Innovation CEO Jang Yong-ho; SK Telecom CEO Ryu Young-sang, and SK hynix CEO Kwak Noh-jung.

The executives discussed the implications of upcoming events such as the US presidential election in November and the Japanese prime minister election in September. They also reviewed concerns about a potential US recession, geopolitical risks and the ongoing Chinese recession, as well as debated strategies to address these issues.

Chey, who doubles as chairman of the Korea Chamber of Commerce and Industry, has been actively engaging with the global business community this year, including meetings with major tech CEOs in the US and other countries to explore collaboration opportunities.

In April and June, Chey met with leaders from companies such as Nvidia, OpenAI, Microsoft, Amazon, Intel and TSMC in the US and Taiwan.

He met with a delegation of US senators on Tuesday, to discuss ways to enhance economic cooperation between Korea and the US. On Thursday, he sought bipartisan support at the National Assembly for addressing high-tech industry challenges.