Seoul:SK Group, a South Korean conglomerate with interests spanning semiconductors to construction, announced that it will retain the chief executive officers of major affiliates, including SK hynix Inc., while implementing changes in leadership at its energy-related units.
According to Yonhap News Agency, industry observers note that this annual executive reshuffle emphasizes maintaining stability in existing management structures. The reshuffle aims to enhance business competitiveness through leaders with specialized expertise, following significant management changes at major affiliates last year.
SK hynix will retain CEO Kwak Noh-jung, who has been at the helm since March 2022. The company, recognized as the world's second-largest memory chipmaker, reported record high revenue and operating profit for the third quarter, attributed to strong demand for memory chips amid the artificial intelligence boom. Additionally, SK hynix announced a shareholder return program valued over 100 trillion won (US$75.3 billion) set for 2026.
To bolster its American operations and strengthen relationships with major U.S. technology companies, SK hynix has created a new executive-level position. Ahn Hyun will lead the newly established Americas division, with adjusted responsibilities among key executives.
SK Inc., the group's holding company, also retained CEO Jang Yong-ho. However, Jang will step down as CEO of SK Innovation Co., an energy affiliate, a role he held concurrently, to concentrate on managing the holding company. SK Innovation has nominated Cheong Seung-il, previously responsible for future growth at SK and an expert in power and energy, as its new CEO.