Chey Tae-won

Chairman, SK Group

Since taking over as Chairman in 1998, Chey Tae-won has overseen a far- reaching transformation of SK Group by investing in industries that build a stronger and more sustainable future.

At the heart of this strategy is a recognition that businesses have to put equal importance on both economic and social value creation. This commitment to a double-bottom line has driven significant investments in sustainable innovations, including EV batteries, hydrogen, and animal-free foods. These investments support the Deep Change initiative that Chairman Chey imple- mented in 2018. Deep Change targets a one percent reduction in global carbon emissions and a commitment by SK operating companies to concentrate on acquiring and partnering with com-panies that focus on clean energy.

Driving this transformative agenda is SK’s management philosophy, the SK Management System (SKMS). SKMS is committed to implementing greater transparency to earn the trust of all of its stakeholders, including SK shareholders, customers, employees, suppliers, communities, and governments.

Overall, the double-bottom line implemented by Chairman Chey has generated strong financial returns, including 2021 group-wide revenues of $135 billion from $28.6 billion in 1998. It has also generated the equivalent of $16 billion in social value creation.

Outside of SK, Chairman Chey chairs the Korea Chamber of Commerce and Industry (KCCI), one of the country’s most influential business advocacy organizations. He also oversees a number of academic and policy initiatives, including the Korea Foundation for Advanced Studies and the Chey Institute for Advanced Studies. Last year the Institute brought together experts from Korea, Japan, and the US to launch the Trans-Pacific Dialogue aimed at addressing challenges faced by the Korean peninsula.

As well as presiding over the Korea Handball Association, Chairman Chey is also the vice presi-dent of the Olympic Council of Asia. He is currently leading the private sector efforts to bring the 2030 World Expo to Busan, South Korea’s second-largest city.

Chairman Chey holds a bachelor’s degree in physics from Korea University and studied postgrad-uate economics at the University of Chicago.