The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Netflix apologizes for filming 'Single's Inferno 3' in marine sanctuary

  • 3

    In-N-Out Burger pop-up store attracts record crowd

  • 5

    Calls grow for female flight attendants to ditch skirts for pants

  • 7

    Hamburger franchises having trouble in M&A market

  • 9

    Man gets five-year jail term for K-pop concert ticket fraud

  • 11

    Small business owners urge stricter rules on migrant workers switching jobs

  • 13

    Transgender cyclist looks to spark debate in historic appearance

  • 15

    Pandas at Everland become tourist magnet

  • 17

    Nexon case reignites controversy over high level of inheritance tax

  • 19

    JYP to expand partnership with US music label

  • 2

    BTS' RM named honorary ambassador of war-remains excavation agency

  • 4

    'BLACKPINK the Game' showcases group's unique charm

  • 6

    EXO's Baekhyun, Xiumin and Chen in dispute with SM over contract issue

  • 8

    Pyongyang seeks to portray rocket as science effort by admitting failure: experts

  • 10

    Hallyu inspires Thailand to mull ways to export its culture

  • 12

    Police send girlfriend murder suspect to prosecution

  • 14

    From hardcore action to heart-throbbing romance, series to hit in June

  • 16

    Suspect in grisly Busan murder sent to prosecutors for further probe

  • 18

    S. Korea succeeds in L-SAM missile interception test for 3rd time

  • 20

    INTERVIEWFrench photographer highlights amazing transformations of dog meat farm survivors

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
Sat, June 3, 2023 | 06:28
Companies
SK appoints 'core insider' to head battery business
Posted : 2021-12-17 15:14
Updated : 2021-12-17 15:33
Kim Hyun-bin
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link

By Kim Hyun-bin, Kim Yoo-chul

SK reinstated a member of the owner family to manage its battery business, mimicking its chief cross-town rivals' decisions to appoint trusted executives to manage their burgeoning battery businesses amid a strengthened focus on strategic alliances and joint ventures between battery suppliers and vehicle manufacturers.

The board committee of SK On, a battery subsidiary wholly owned by SK Innovation (SKI), appointed SK Group Senior Vice Chairman Chey Jae-won as chief executive on Friday. He is the younger brother of SK Chairman Chey Tae-won.

The SK battery unit said the newly-appointed CEO will be in charge of handling both external and internal affairs and navigate various growth strategies.

The appointment of the new CEO came a few days after the group's chairman admitted that the conglomerate was facing a lot of challenges to maintain the momentum of its battery business.

SK Group, one of the country's top business conglomerates, has invested heavily in battery-manufacturing facilities in China and the United States under an alliance with Ford. It's also on track to build a factory in Hungary.

"There is a lot of competition. Given SK's bullish moves in the growing battery business, swift and timely decisions are essential and this is the point that only the owner family can address," said an SK official. SK is a latecomer to the global battery market and trails Samsung SDI and market leader LG Energy Solution (LGES).

Chey Jae-won
Chey Jae-won
The junior Chey's return to management also came eight years after being sentenced to three and a half years in prison for embezzlement. The younger brother had been stripped of all of his registered titles at the conglomerate in 2013 while his employment restriction was lifted in October of this year.

Company officials said the junior Chey was a "hidden force" in terms of laying some of the necessary groundwork for SK's battery business.

Recently, LGES named Vice Chairman Kwon Young-soo, the top confidante of LG Group Chairman Koo Kwang-mo, to lead the conglomerate's battery affiliate ahead of its planned blockbuster domestic initial public offering and in the wake a massive recall of electric vehicles manufactured by General Motors and Hyundai Motor using LG's batteries.

Samsung SDI promoted Jeon Young-hyun, also considered as one of the "core insiders" within Samsung, as vice chairman. Samsung officials said the promotion was attributed to Samsung chief Lee Jae-yong's growing focus on the battery business along with the semiconductor business.




Emailhyunbin@koreatimes.co.kr Article ListMore articles by this reporter
Emailyckim@koreatimes.co.kr Article ListMore articles by this reporter
 
wooribank
Top 10 Stories
1Roland Garros 2023 Roland Garros 2023
2Airlines fiercely compete to acquire additional aircraft Airlines fiercely compete to acquire additional aircraft
3More banks offer daily interest payments on deposits More banks offer daily interest payments on deposits
4Hyundai Elevator launches AI, IoT-powered maintenance service Hyundai Elevator launches AI, IoT-powered maintenance service
5Seoul imposes sanctions on North Korean hacking group for role in space launch Seoul imposes sanctions on North Korean hacking group for role in space launch
6POSCO, GM expand joint EV battery materials investment in North America POSCO, GM expand joint EV battery materials investment in North America
7LG Chem joins Korean firms strengthening ties with Japan LG Chem joins Korean firms strengthening ties with Japan
8HMM tasked with preventing sale of Hyundai LNG to foreign firm HMM tasked with preventing sale of Hyundai LNG to foreign firm
9Korean stocks feared to lose steam on prolonged trade deficit, real estate doldrums Korean stocks feared to lose steam on prolonged trade deficit, real estate doldrums
10KAERI distances itself from Oxford professor's claim on Fukushima water KAERI distances itself from Oxford professor's claim on Fukushima water
Top 5 Entertainment News
1'HyeMiLeeYeChaePa' producer Lee Tae-kyung hopeful of second season 'HyeMiLeeYeChaePa' producer Lee Tae-kyung hopeful of second season
2How artist Michael Rakowitz resurrects lost past of Iraq through food packaging How artist Michael Rakowitz resurrects lost past of Iraq through food packaging
3From hardcore action to heart-throbbing romance, series to hit in June From hardcore action to heart-throbbing romance, series to hit in June
4[INTERVIEW] Lee Jun-hyuk unrecognizable in 'The Roundup: No Way Out' INTERVIEWLee Jun-hyuk unrecognizable in 'The Roundup: No Way Out'
5'Elemental' director on bringing his personal story of immigration to cinema 'Elemental' director on bringing his personal story of immigration to cinema
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group