SK digitally revives legacy of late chair

SK Group announced Wednesday that it has completed a two-year digital archiving project to restore and preserve the legacy of the late Chairman Chey Jong-hyun, a pivotal figure in South Korea's economic development from the 1970s through the 1990s.
Dubbed the 'Sunkyong Chronicles,' the extensive archive includes 3,530 voice recordings of Chey and has been digitized for the first time, according to the SK Supex Council. The collection is expected to serve as a valuable resource for understanding the evolution of Korea's modern corporate and economic history.
SK said Chey frequently recorded company reports, internal discussions, employee conversations and key meetings. His comments and leadership philosophy, captured throughout the archive, underscore his efforts to shape SK's management direction and elevate corporate governance standards in Korea.
In a talk with new employees in 1982, Chey remarked, 'Even in a big country like the US, foreigners are hired for their talent. In a small country like Korea, forming factions based on region, school ties or social cliques is unacceptable.'
In a 1992 meeting with executives from SKC, he stated, 'A floppy disk sells for one dollar, but once you put software in it, its value increases 20-fold,' stressing the need for Korea to move beyond hardware and focus on high-value industries.
The archive also chronicles key moments in the formation of SK's unique management philosophy, the SK Management System (SKMS) — including decision-making processes, leadership interactions and dialogues with international business figures.
The restored archive comprises approximately 17,620 items, including 5,300 audio and video files, 3,500 documents and 4,800 photographs. Altogether, these amount to 131,647 individual units. The 3,530 audio tapes of Chey's recordings alone amount to over a year's worth of continuous listening at eight hours per day, the company said.
'The late chairman's management records are treasure troves reflecting the thoughts and struggles of entrepreneurs who drove Korea's economic growth,' said an SK official. 'The volume and age of the materials made the project particularly challenging, but new technologies enabled us to restore and preserve their quality.'
SK said it plans to use the digital archive to promote its core values and the SKMS philosophy across the group.
The project was launched in 2023, following the publication of the '70th Anniversary Quotes Collection' that same year.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Korea Herald

2 days ago

• Korea Herald

[Editorial] Brains before algorithms

South Korea's push for AI leadership must confront the challenge of retaining talent South Korea has declared its ambition to become one of the world's top three powers in artificial intelligence. The goal is bold, the funding substantial: President Lee Jae Myung has pledged 100 trillion won ($72.5 billion) to the sector. Earlier this week, Lee appointed Ha Jung-woo, a respected AI researcher formerly at Naver, as the country's first senior presidential secretary for AI policy. A sweeping initiative, backed by public and private investment, is beginning to take shape. Alongside infrastructure plans such as a major AI data center in Ulsan co-funded by SK Group and Amazon Web Services, Lee's initiative signals a serious — if belated — push to catch up in the global AI race. But lofty goals and generous budgets alone do not make an AI powerhouse. Without the talent to match its vision, South Korea risks building a hollow structure: well-funded, well-planned and ultimately weakened by the steady loss of its brightest minds. The warning signs are clear. According to the Korea Chamber of Commerce and Industry, South Korea ranks 35th out of 38 OECD countries in net AI talent mobility. For every 10,000 residents, 0.36 more AI professionals leave the country than arrive. This widening 'brain deficit' threatens the very foundation of Lee's AI strategy. The trend is not confined to AI. Across science and technology fields, more Korean professionals are seeking careers abroad, while fewer foreign experts are choosing to relocate to South Korea. The KCCI analysis also shows that the country's innovation pipeline is faltering: fewer international research partnerships, declining venture investment and a generation of STEM graduates opting for medical school or emigration over startups and R&D. This is not simply about money. Young Korean scientists and engineers are drawn to countries where advancement is based on merit, not seniority. They want flexible work environments, robust research infrastructure and room to take intellectual risks. Yet at home, they face rigid institutional norms: a 52-hour workweek cap, seniority-based pay and limited opportunities for global collaboration — all of which hamper South Korea's ability to attract and retain top-tier talent. The financial cost of this exodus is high. Each college graduate who leaves to work abroad represents more than 550 million won in lost public investment and future tax revenue. The long-term damage is even greater. As the scientific workforce erodes, the innovations South Korea hopes will define its economic future could stall before they begin. The government's investment in AI infrastructure is a necessary step. Ha Jung-woo's appointment and his advocacy for a sovereign AI trained on Korean language and culture show strategic insight into the risks of overdependence on foreign platforms. But infrastructure must be matched by reforms that address the root causes of the brain drain. The task ahead is not just to slow the outflow, but to reverse it. South Korea needs a comprehensive 'brain gain' strategy that builds a national ecosystem where talent can thrive. This includes more flexible labor rules, performance-based rewards and stronger support for research and innovation. It also means creating meaningful incentives for foreign experts to come, and to stay, through streamlined visas, tax benefits and improved housing and education options. By the end of 2025, South Korea is expected to face a shortfall of nearly 15,000 AI professionals. And in an era when AI capability is closely tied to national security, economic competitiveness and global standing, there is little margin for error. South Korea has the financial resources, political resolve and technological foundation to lead in AI. But success will depend less on the amount invested and more on the country's ability to cultivate — and retain — the people who will drive that future forward. In the AI age, it is not the machines but the minds that matter most.

Korea Herald

3 days ago

• Korea Herald

Korea pushes China-free supply chains with new US investments

Korea Zinc expands US ties with rare metal exports, mining deal Corporate Korea is closely monitoring the new Lee Jae Myung administration's diplomatic maneuvers, particularly how Seoul will go about bolstering its economic partnership with Washington DC amid the ongoing US-China trade spat. A meeting between the Korean and US presidents did not take place as planned on the sidelines of the G7 summit in Canada this week, as US President Donald Trump returned to America earlier than scheduled. However, political and diplomatic stakeholders expect a summit between Lee and Trump at the upcoming NATO summit next week. Since President Lee's inauguration earlier this month, Korea and the US have emphasized the importance of strengthening their economic ties. The two countries are expected to seek cooperation in shipbuilding, energy and critical minerals, as well as negotiate the US-imposed tariffs on Korean exports. The US' attempt to restructure global supply chains away from China has led to an ongoing trade dispute between the US and China and opened up new opportunities and risks at the same time for all economies involved, including Korea. China recently resumed rare earth metals exports to the US but decided to allow them for only six months, meaning the tension over the global supply chain and ongoing trade war between the US and China will likely persist. Korea's business sector has been swiftly taking various measures to cope with the rattling economic security. SK Group Chairman Chey Tae-won, who also serves as the head of the Korea Chamber of Commerce and Industry, met with President Lee to discuss the six strategies industries -- shipbuilding, energy, nuclear power, artificial intelligence, semiconductor and mobility -- that the country can create synergy in partnership with the US. Chey explained how Korean companies have practically contributed to the US economy. In accordance with Chey's remarks on Korean firms benefiting the US' push to remove the reliance on China-involved supply chains worldwide, Korea Zinc announced on the previous day that it had invested $85 million to acquire a 5 percent stake in The Metals Company, a Nasdaq-listed Canadian deep-sea mining exploration company focused on extracting metals required for electric vehicles and low-carbon energy. 'With this investment, Korea Zinc can become one of the pillars that hold up supply chains excluding China,' said Korea Zinc. '(The Metals Company) also places an important value on the partnership with us, having China-unrelated assets and technologies.' Earlier in the week, Korea Zinc revealed that it had shipped its first export of antimony to the US. Antimony, a key chemical element material used in electronics and military products, is designated as a strategic element. The shipment marked Korea Zinc's entrance into the US market and its intention to expand its network in the US. "Once allied economies such as Korea and the US begin discussing specific areas of cooperation through summits, companies are projected to be in step with them and move quickly," said an industry official. "Due to the escalating tension between the US and China, sectors related to economic security, such as energy, minerals, shipbuidling, defense and intermediate goods, are likely to be continuously emphasized moving forward."

Korea Herald

4 days ago

• Korea Herald

KG Mobility bets on hybrids as core growth driver in long-term strategy

Korea's sport utility vehicle maker KG Mobility announced Tuesday that it is positioning hybrid electric vehicles as a key pillar of its future growth strategy, signaling enhanced participation in the segments gaining global traction as an alternative to battery EVs. The announcement was made during the company's presentation of its mid- to long-term strategy at its headquarters in Pyeongtaek, Gyeonggi Province. Presenting its hybrid concept as 'an electric vehicle without the need for charging,' the company said it aims to offer a quiet and smooth driving experience similar to that of EVs, while addressing concerns about charging infrastructure and safety. 'Unlike conventional hybrids, which add a supplementary motor to internal combustion engines to improve fuel efficiency, KG Mobility's hybrid vehicles are developed from EV platforms,' said Kwon Yong-il, research and development headquarters head at KG Mobility. 'Our goal is to retain the core benefits of EVs while alleviating concerns over fire risk and charging inconvenience.' As part of its ongoing development of hybrid powertrains, the company, once known for its diesel models, said it is expanding beyond conventional hybrids. 'KGM is also co-developing new xEV systems with China's Chery Automobile, including extended-range electric vehicles (EREVs) and plug-in hybrids (PHEVs), which aim to deliver high efficiency at a price point comparable to that of conventional hybrids,' said Kwak Jeong-hyun, chief strategy officer at KG Mobility. PHEVs provide a longer battery-powered driving range than conventional hybrids. EREVs take it further by using a gasoline engine only as a generator, supporting the battery to maximize efficiency and extend range. To drive growth with its new powertrains, KG Mobility announced plans to accelerate the rollout of new eco-friendly SUV and pickup models, continuing its legacy of producing larger vehicles. The company aims to launch seven additional eco-friendly models by 2030. As the first of these new launches, KG Mobility announced at the event that it will introduce the Actyon Hybrid SUV in the second half of 2025. The company explained that the gasoline-powered version released in 2024 underperformed in the market, partly due to the absence of a hybrid option. The upcoming model is expected to be priced at around 37 million won ($27,200). It will be equipped with KG Mobility's efficiency-Dual motor Hybrid Transmission system, co-developed with Chinese electric vehicle giant BYD — the same powertrain used in the Torres Hybrid, the company said. Amid concerns over the company's reliance on Chinese partners such as BYD and Chery Automobile for its electrification efforts, KG Mobility responded that it is also exploring partnerships with global companies for future model development. During the event, the company pledged to revive its business with a comprehensive strategy that includes expanding its eco-friendly vehicle lineup and strengthening its global sales network. KG Mobility noted a shift in its sales structure, with exports now accounting for 70 percent of total sales, up from 40 percent in 2022. 'It has been two years and ten months (since KG Group acquired KG Mobility). I have diagnosed why the company has struggled, and now we are beginning treatment,' said Kwak Jae-sun, chairman of KG Group and KG Mobility. 'We will work together with every employee to rebuild this company. The difficult times (following its insolvency in 2009) cannot come again.'