In response to current challenges and to bolster core competitiveness, SK Innovation has appointed new technology-driven CEOs for three of its subsidiaries: SK Energy, SK Geo Centric, and SK IE Technology. The announcement was made on the 24^th.

The newly appointed CEOs are all from engineering backgrounds, emphasizing a focus on technology and field operations. SK Innovation explained that these leaders are expected to deliver tangible results in the company’s strong push for Operation Improvement (O/I).

Kim Jong-hwa, currently the Head of SK Energy Ulsan CLX has been appointed as the new CEO of SK Energy. With a background in engineering, Kim is recognized as the top production expert within Ulsan CLX, having extensive experience in both refining and chemical businesses. Amidst the volatile oil price environment, Kim is anticipated to contribute to stable process operations and product competitiveness, driving continuous profit generation.

Kim joined the company in 1994 when it was known as Yukong, the predecessor of SK Innovation. He has held key positions in field management, including Head of Engineering at SK Energy, Head of Safety, Health, and Environment (SHE) at SK Innovation, and Chief Safety Officer (CSO) at SK Geo Centric. Since last year, he has been overseeing Ulsan CLX.

Choi Ahn-seop, the Head of the Materials Division at SK Geo Centric, has been appointed as the new CEO of SK Geo Centric. Choi, originally an R&D researcher, has held significant roles such as Head of Optimization Office and Head of Strategy & Planning Division at SK Geo Centric. His extensive experience and capability in developing high-value products make him the ideal candidate to drive future growth for SK Geo Centric.

Lee Sang-min, Head of Green Growth Division at SK Enmove, has been appointed as the new CEO of SK IE Technology. Also an R&D researcher by training, Lee has developed advanced technologies at SK Technology Innovation Center and has built expertise in growth businesses as Head of Green Growth at SK Enmove. His achievements include successfully launching key new businesses such as HVAC (Heating, Ventilation, and Air Conditioning) systems and e-Fluids for electric vehicles. Lee’s appointment as CEO will be formalized at the annual shareholders’ meeting in March next year.

Notably, SK Innovation has made bold moves by appointing Choi Ahn-seop, born in 1972, and Lee Sang-min, born in 1975, signaling a shift towards younger leadership to prepare for a challenging future.

Additionally, SK Geo Centric has promoted three individuals with proven performance and capabilities to new executive positions as part of a follow-up organizational restructuring. Given the tough conditions in the chemical business, the company has streamlined its organizational structure to enhance decision-making speed and execution power.

An SK Innovation representative stated, “On November 1^st, SK Innovation will merge with SK E&S to launch as a Total Energy & Solution Company. In line with our portfolio adjustments, we have swiftly stabilized the organization and appointed CEOs who will aggressively push forward with our O/I initiatives.”

[References] List of New Executive Appointments within SK Innovation Subsidiaries

<CEOs>

◈ SK Energy

– Kim Jong-hwa

◈ SK Geo Centric

– Choi Ahn-seop

◈ SK IE Technology

– Lee Sang-min

<Executives>

◈ SK Geo Centric

– Kim Yong-soo (Head of Management & Planning Office)

– Choi Yun-seook (Head of Aromatic Plant)

– Yeo Du-hyun (Head of Packaging Solution Division)