Latest news with #CheyChang-won
Korea Herald
13-06-2025
- Business
- Korea Herald
SK's top brass convene for strategy meeting to review business overhaul
SK Group's top executives have gathered for a two-day business management strategy meeting to assess the group-wide business restructuring efforts and discuss long-term growth strategies amid rapidly changing market conditions. Around 30 CEOs from major SK affiliates — including SK Group Chair Chey Tae-won, SK Supex Council Chair Chey Chang-won and SK Innovation Executive Vice Chair Chey Jae-won — are anticipated to take part in the annual meeting, according to industry sources on Friday. The high-level session is one of the group's four key annual events alongside the Icheon Forum in August, the CEO Seminar in October and the Directors' Summit in November. Sources assume that the key theme is once again portfolio 'rebalancing' — a group-wide initiative that SK launched last year to optimize business operations, streamline overlapping units and improve financial soundness. The rebalancing initiative revolves around three key principles: selection and concentration, span of control and financial health. Over the past year, SK's affiliates have accelerated structural changes, which analysts say have already begun to enhance the group's fiscal stability. Discussions will likely also extend to future growth engines, including strategic investments in artificial intelligence, advanced semiconductors and national-level core industries. Another agenda item will be operational improvement — an internal drive to refine management fundamentals based on the group's signature SK Management System philosophy. Reinforcing these principles is seen as vital to sustaining growth in an increasingly volatile global business environment. Following a recent cybersecurity breach involving SK Telecom, executives may also exchange ideas on how to rebuild consumer trust and bolster information security. As the group navigates a post-pandemic world marked by geopolitical tensions and technological upheaval, this year's management strategy meeting is expected to serve not just as a strategic checkpoint, but also as a forum to reaffirm SK's long-term commitment to innovation, governance and sustainable growth. SK chief Chey Tae-won is set to participate in the group's annual meeting following his participation in a morning meeting with President Lee Jae-myung and heads of five major conglomerates and six business associations.
Korea Herald
14-05-2025
- Business
- Korea Herald
SK Group launches data protection committee to bolster group-wide cybersecurity
SK Group said Wednesday it has launched a special committee on data protection as part of its efforts to improve cybersecurity across its affiliates, following a large-scale data breach at SK Telecom Co. The special committee was formed under the SUPEX Council, SK Group's top decision-making advisory body, to proactively identify and block security risks and strengthen security capabilities of affiliates within the group, according to SK Group. Chey Chang-won, chairman of the SUPEX Council, will head the new committee, with key SK Group affiliates, including SK Corp., SK Innovation Co., SK hynix Inc. and SK Telecom, participating. To ensure expertise and objectivity, SK Group has appointed external cybersecurity experts from academia and industry as official members. They include professor Choi Kyoung-jin of Gachon University, professor Lee Byung-young from Seoul National University and professor Kim Yong-dae, former director of the Cyber Security Research Center at the Korea Advanced Institute of Science & Technology. The launch of the committee is part of a promise made by SK Group Chairman Chey Tae-won during a media briefing last week, in which he publicly apologized for the data breach that may have exposed the personal information of approximately 25 million SK Telecom users. The breach was first detected on April 18, involving a significant leak of universal subscriber identity module data. In response, the company has offered to replace the USIM of all 25 million subscribers, including 2 million budget phone users, free of charge to prevent identity theft or financial fraud. The company has also enrolled all users in its USIM protection service, which, it says, offers the same level of protection against unauthorized financial activities as a physical USIM replacement. (Yonhap)
Korea Herald
11-05-2025
- Business
- Korea Herald
SK Telecom debuts USIM reset tech without chip swap
Korea's top mobile carrier SK Telecom said Sunday it is introducing the new USIM reset solution that allows users to update specific USIM authentication data without physically replacing the chip. The technology alters part of the user identification and authentication information stored on the chip, leaving other user-saved data, such as mobile contact lists, prepaid transportation cards like T-money and mobile certificates, untouched. Unlike traditional USIM swaps, it eliminates the need to reconfigure financial authentication certificates. Available to both USIM and eSIM users, the reset process simplifies security management while minimizing user inconvenience. The service will be available at SK Telecom's T World stores for customers who receive a notification message regarding a USIM replacement. Starting Monday, the company will increase scheduling notifications for users who have prebooked a USIM chip replacement, as inventory supplies improve. SK Telecom also said that for customers who wish to switch to a physical USIM chip following a reset, the company will offer one free exchange at any T World store nationwide. Meanwhile, SK Group is taking steps to overhaul its cybersecurity infrastructure, with plans to launch a new in-house committee. The group reportedly discussed the direction and structure of the upcoming committee during a recent meeting of its strategy and globalization committee, chaired by Chey Chang-won, the head of the group's highest decision-making body, SK Supex Council. The move follows Chairman Chey Tae-won's public apology at Wednesday's press conference, in which he vowed to 'conduct a full-scale review of security systems across all SK affiliates and expand investment in cybersecurity infrastructure.' During the conference, he also pledged to form a committee involving external experts 'to ensure an objective and neutral approach to system improvement.' The committee will be formed under the guidance of the Supex Council and is expected to consist of internal and external experts. The council is composed of top executives from SK's major affiliates and oversees group-wide strategic and operational plans. Currently, the Supex Council operates eight subcommittees, including those focused on strategy and globalization, environmental business, ICT, talent development, communication, social value, governance and semiconductors.
