SK Innovation has announced an executive reshuffle aimed at strengthening its growth foundation centered on the power business and enhancing management execution for 2027.
Effective November 1, Jeong Seung-il, currently the president in charge of future growth at SK Inc., will be appointed as the new CEO of SK Innovation. Kang Dong-soo, who serves as president of SK Inc. and head of the PM division, will also take on the roles of president of SK Innovation and SK Energy, the company announced on October 30.
New CEO Jeong Seung-il will oversee SK Innovation's transition strategy to become a power business operator, leveraging his expertise in the energy and power sectors along with proven management skills. He aims to lead the company's future growth strategy as a total energy company.
Jeong has previously held key positions, including vice minister of the Ministry of Trade, Industry and Energy, president of Korea Electric Power Corporation, and president of Korea Gas Corporation. He is recognized as a leading energy expert with a comprehensive understanding of energy mix, natural gas supply, and grid infrastructure.
Kang Dong-soo, the new president, will focus on optimizing the business portfolio and improving operational efficiency to enhance profitability and corporate value, drawing on his deep understanding of SK Innovation's energy business and expertise in strategy and finance.
Kang has held various roles, including head of strategy and finance at SK Innovation and portfolio manager, and has been responsible for group-level portfolio optimization and investment decision-making since November of last year.
Kim Won-ki, president of SK Geo-Centric, will also serve as president of SK Enmove CIC. He plans to strengthen the competitiveness of the chemical business based on his experience in driving stable revenue generation and global growth at SK Enmove.
Kim Kyung-jun has been appointed as president of SK Earth-On, bringing expertise in resource development to enhance business competitiveness.
Kim Tae-jin has been appointed as president of SK Trading International (SKTI), a corporate independent company (CIC) of SK On. He will focus on improving profitability based on his global trading experience.
An SK Innovation official stated, "This appointment is aimed at enhancing the execution of future growth strategies based on business portfolio rebalancing and financial structure improvement. We plan to strengthen the competitiveness and profitability of existing businesses while accelerating the transition to a power business operator to solidify our sustainable growth foundation."
Meanwhile, SK Innovation has expanded its business foundation as a total energy company by merging with SK E&S in November 2024, integrating its existing refining, chemical, and battery businesses with LNG, power generation, and renewable energy sectors. This strategy aims to enhance synergies among energy businesses and secure future growth drivers.
* This article has been translated by AI.
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