■ Emphasis on “improving comprehensive fundamentals and building robust portfolios” in an era of super-uncertainty

■ Pledge working environment that brings sense of accomplishment and greater happiness

Park Sang-kyu, CEO of SK Innovation, called for the pursuit of sustainable growth continuously by strengthening the fundamental competitiveness of SK Innovation affiliates for the year 2024.

In his 2024 New Year’s message to the member of SK Innovation affiliates, CEO Park emphasized comprehensive structural improvements and the establishment of robust portfolios in terms of all business sectors.

“SK Innovation has been working all this time to take a leap forward as a Green Energy & Materials Company,” said CEO Park. He encouraged all the members of the company while evaluating the business performance, saying that “With SK Innovation at the forefront, we have created together the blueprint for Carbon to Green through your dedicated efforts to innovate new business portfolios based on differentiated green technologies for each business.”

In particular, he mentioned all the SK Innovation affiliates should seek ways to secure competitiveness of fundamental business and actively implement them in an area of super-uncertainty.

He also stated, “This year will be a more challenging year ever due to unstable global politics including geopolitical conflict and global market being divided into discrete block.” “We should collect our capabilities to secure survival and enhance fundamental competitiveness for driving sustainable growth,” he continued.

He specifically mentioned that “There is an urgent need to improve our fundamentals to survive in a global business environment where survival is threatened.” “I would like to revisit the overall direction of our strategy from the perspective of efficiency, namely input versus output, and seek ways to enhance competitiveness,” he added. “Sources of inefficiency and waste need to be identified and addressed.”

He stressed that “I would like to dispassionately assess SK Innovation portfolios in terms of past and current performance, future outlook, profitability, competitiveness and risks. Based upon such assessments, we need to make efforts to properly distribute the limited resources we have.” He also emphasized the enhancement of synergy, efficiency of resources from the perspective of SK Innovation affiliates, and the maximization of advantages of SK’s unique management – “sharing together.”

He said, by looking back on the SKMS management philosophy, SK members should overcome the crisis together by actively implementing the corporate culture by themselves.

He also said “I ask you to be faithful in your daily life to personal commitment to contribute and grow together with the company, corporate culture of encouraging voluntary and willing attitude and people-centered culture built on mutual respect.”

And he continued “SK Innovation will surely overcome challenges with our accumulated strength. I will do my utmost to make sure that you feel a sense of achievement, grow your capability and enjoy your work. Let us all work together this year so that we can help to build greater and more sustainable happiness.”

[Photo] SK Innovation CEO Park Sang-kyu