The plan was unveiled during a group-wide management meeting on growth strategies and subsidiary restructuring held on Friday and Saturday. About 30 top-level executives, including CEOs from major subsidiaries, attended the meeting at the SKMS Research Institute in Icheon, Gyeonggi Province. Chairman Chey Tae-won participated via video conference from the U.S.
"As we enter a new transitional era, it is essential to implement preemptive and fundamental changes to prepare for the future," Chairman Chey was quoted as saying.
He emphasized SK must leverage its capabilities to enhance its leadership in the AI value chain, encompassing everything from AI services to infrastructure.
The chairman predicted growth opportunities in energy solutions sector, as the company explores various options to turn around SK On, its struggling battery company.
During the meeting, top executives decided to secure 80 trillion won by 2026 through profitability improvement, business structure optimization and synergy enhancement. These funds will be earmarked for investments in future growth areas such as AI and semiconductors.
SK's semiconductor arm, SK hynix, plans to invest 103 trillion won by 2028 to strengthen its competitive edge in the AI and semiconductor businesses. About 80 percent of this investment will focus on AI-related business areas, including High Bandwidth Memory (HBM).
SK Telecom and SK Broadband will also invest 3.4 trillion won in the AI data center business over five years.
On Monday, SK established a semiconductor committee under the SK Supex Council, the group's decision-making body. The committee aims to improve synergy among affiliates involved in the AI and semiconductor value chains. SK Hynix CEO Kwak Noh-jung heads the committee.
"We have a clear goal of qualitative growth, and with steady effort, nothing is unachievable. We must accelerate operational improvements at each company to meet market expectations and build trust," said SK Supex Council Chairman Chey Chang-won.
The strategic meeting takes place against the backdrop of Chairman Chey's recent divorce settlement. On May 28, the Seoul High Court ordered him to pay 1.38 trillion won in property division and 2 billion won in alimony to his estranged wife, Noh So-young, marking it as the largest divorce settlement in South Korea's history.
There are concerns about how this settlement might affect Chey's control over SK Group. Currently, he retains control through SK Inc., which holds significant stakes in key subsidiaries, including SK Telecom (30.57 percent) and SK Innovation (36.22 percent).
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