Choo Hyeong-wook, CEO of SK Innovation, said on the 24th, "We will make this year the first year of firmly establishing our position as an electricity operator as a total energy company."
At the 19th annual general meeting of shareholders held the morning of the 24th at the SK Seorin Building in Jongno-gu, Seoul, Choo said, "In line with changes in the era of electrification and artificial intelligence (AI), we will systematically strengthen technology and capabilities in growth areas such as batteries and build competitiveness."
SK Innovation projected that the difficult business environment will continue this year following last year. In particular, heightened volatility stemming from geopolitical conflicts such as the U.S.-Iran war and deepening supply chain restructuring driven by protectionism are increasing management uncertainty.
The plan is to complete a business portfolio overhaul to turn these changes into a new opportunity rather than a crisis. Specifically, Choo said, "We will focus resources and capabilities on core businesses and strengthen financial soundness by reducing net debt," adding, "Based on new operating processes, we will strengthen our fundamental competitiveness."
Meanwhile, at the shareholders' meeting, SK Innovation appointed Jang Yong-ho, president overseeing SK Innovation, as a new inside director. Jang plans to achieve strategic goals such as portfolio overhaul, stabilization of the financial structure, and electrification businesses based on leadership and expertise.
It then resolved all agenda items as originally proposed, including ▲ reappointing outside directors Kim Ju-yeon and Lee Bok-hee, who also serves as an audit committee member ▲ partial amendments to the articles of incorporation ▲ approval of the limit on directors' remuneration ▲ approval of the 19th-term financial statements.
Choo said, "SK Innovation will continue to secure fundamental competitiveness and a foundation for future growth while maintaining responsible management and transparent communication," adding, "We will do our best to return greater value to our shareholders."