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GT NEWS | Center of Technology infomation for brighter future.

Chairman Chey Tae-Won Visits SKEIT, Stresses “R&D Is SK’s Future” Contents
title Chairman Chey Tae-Won Visits SKEIT, Stresses “R&D Is SK’s Future”
attachment date 2009-04-26 count 12311
Chairman Chey Tae-Won Visits SKEIT, Stresses “R&D Is SK’s Future”
2009/04/26
SK Group Chairman Chey Tae-Won is accelerating his “R&D Management” drive, presenting “technology leader SK” as a new mantra for the company.

Chey stressed the need for consistent investments in R&D, saying “R&D will decide the future of SK” during his visit to SK Energy Institute Technology and Life Science located in Daedeok Research Complex in Daejeon as part of his managerial tour on the 22nd.

SKEIT is leading development of green technologies including green coal energy and batteries for hybrid vehicles, and Life Science leading development of next-generation drugs such as an anti-epilepsy drug.

“Any business can push for an M&A or a large investment, but to reap a bigger fruit than competitors, you need to have technologies,” said the group chairman. “Technologies and R&D are our hope and future.”

“The energy sector can grow consistently by combining technologies,” he went onto say. “R&D investments can be more important than oil exploration (in this respect). SK should become a tech-oriented company in the future.”

“Facing uncertainties in the environment, businesses focus on defending their positions to stay afloat in the market,” Chey noted. “But we cannot know when the time for more aggressive strategies will come. I am asking our SK people to be prepared for this aggressiveness by building a corporate culture in which we cultivate the best-class technologies together.”

“Chairman Chey’s message stresses that we can take a new leap forward and promote growth in the post-economic crisis market only by reinforcing R&D and securing differentiated technologies,” said an official at SK Group.

Earlier, Chairman Chey stressed during his visit to Institute of Network Technology located in SK Telecom head office in Bundang last month, “the company should create happiness for more people with top-class technology,” stressing “R&D and technological resources should be increased if the company continues to develop consistently.”

SK Group recently announced its record R&D investments, push for Chey’s “R&D Management” drive.

SK decided to spend 1.3 trillion won on R&D to build future competitiveness this year, up almost 20 percent compared to the previous year. It will also invest 5.7 trillion won through 2012 to explore next-generation future growth engines such as green and information communications technologies.

As part of its R&D push, SK Energy said last month that it appointed Dr. Kim Dong-Sup, formerly executive at global energy group Shell, as new head of SKEIT. Kim studied shipbuilding engineering at Seoul Nat’l University and earned his Ph.D in industrial engineering at University of Ohio. He served as head of engineering in Asia Pacific at Shell Asia. In his new role, he will be responsible for overall R&D operations of SK Energy.

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