Choi Changwon Likely to Remain as SK Supex Chairman... Choi Taewon Reaffirms Confidence

SK Supex Council Chairman Choi Changwon is increasingly seen as likely to continue leading the group’s control tower next year. This comes after reports that SK Group Chairman Choi Tae-won expressed the view that the group would need Chairman Choi’s role even more. However, as the final personnel plan has yet to be confirmed, whether he will remain in the post is expected to be determined in the regular executive appointments scheduled for this month.

SK Supex Council Chairman Chey Changwon delivers congratulatory remarks at the groundbreaking ceremony for SK AI Data Center Ulsan, held on the 29th at the construction site in Nam-gu, Ulsan. Yonhap News Agency

According to industry sources on October 18, SK Group plans to announce its regular executive appointments this month, ahead of its chief executive officer (CEO) seminar, which will be held from November 12 to 14. The appointments will take effect on November 1.

Chairman Choi Tae-won, who is deliberating over the final personnel plan, reportedly said at a recent internal meeting that Chairman Choi Changwon would have many tasks to handle for the group next year as well, in a remark to that effect. This is the backdrop to speculation that Chairman Choi Changwon may remain in the post.

Since being appointed chairman of the Supex Council at the end of 2023, Chairman Choi Changwon has led business restructuring at affiliates and improvements to the group’s financial structure. He is credited with helping reduce the group’s financial burden and reorganize its business structure through SK Group’s aggressive portfolio rebalancing.

According to Korea Ratings·KR, SK Group’s debt-to-equity ratio, which exceeded 145% in 2023, fell to 86% in the first quarter of this year. Net debt decreased from 84 trillion won to 22 trillion won, while the number of affiliates fell from 219 to 151.

Going forward, Chairman Choi Changwon is expected to focus on supporting the group’s AI-centered business restructuring, beyond improving its financial structure. Observers say that while Chairman Choi Tae-won leads medium- and long-term growth strategies, including expanding cooperation with big tech companies and building an AI ecosystem, Chairman Choi Changwon could coordinate cooperation among affiliates and the execution of those strategies.

This content was produced with the assistance of AI translation services.