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CEO’s New Year Message Contents
title CEO’s New Year Message
attachment date 2011-01-03 count 14353
CEO’s New Year Message

To our valued customers and shareholders of SK Innovation, SK Energy, SK Global Chemical and SK Lubricants,

Year 2011, the year of the rabbit, has arrived, with the promise of growth, abundance and prosperity.




And I would like to wish a very happy new year for our customers, shareholders and their families and friends.

Last year, four SK Energy companies including SK Innovation continued to sharpen their competitive edge and invest in future growth technologies for the existing businesses, while addressing inefficient business practices through consistent efforts to improve the management, thereby, achieving one of the best performances in the history of SK through close cooperation between companies.

We were also committed to rebuilding our business portfolio and establishing a secure and sound financial system for our business.

As part of ongoing efforts to accelerate growth of SK Energy by responding promptly to uncertainties and changes in the management environment and establishing a more timely decision-making process, we decided to transform SK Energy into four independent entities in November last year, and as a result, the four-affiliate structured was introduced early this year.

Under this new structure ensuring independent management, each SK Energy company will set new vision and goals, and engage in their business with a management system optimized for its business area.

With its advanced technologies, SK Innovation is set to become a technology leader in the information electronic components, battery and petroleum business.

SK Energy will grow as a major global trading company going beyond its position as a leading oil refinery and sales business as the country’s No. 1 petroleum company.

SK Global Chemical has set a goal to become one of established chemical companies in Asia by expanding into the fast-growing Chinese market.

SK Lubricants will continue to grow in the finished product market as well as the market for lubricant and base oil where the company takes the leadership through partnerships with major lubricant companies in Europe, North America and Asia.

Our valued customers and shareholders,
To achieve the vision and goals set for each company, I would like to share key tasks that we have selected for 2011 business, and further pledge our commitment to implementation of these plans.

First, we will build a business-specific management with focus on autonomous decision-making and responsibilities.

For a heavyweight business with annual KRW 40 trillion sales seeking to achieve its vision which includes sales of KRW 120 trillion and operating profit of KRW 11 trillion by 2020, it is a crucial to have a management system optimized for each business area, ranging from petroleum, chemical and lubricant oil to energy development and new energy technologies.

Chief executive officers (CEO) of these companies including myself will remain committed to building a business-specific management system

I believe that our customers and shareholders will continue to have confidence in our CEOs’ rich field experience as well as their ability to make a right decision for business.

Secondly, we will maximize the value of business portfolio.
While each company remains independent in management with focus on autonomous decision making and responsibilities, companies will closely cooperate with each other if there is an opportunity to create a synergy such as expansion into a new business or a partnership. Through this win-win relationship and synergy in other management activities, we will make our best efforts to maximize the value of our portfolio from both individual companies and the entire SK Energy perspectives.

Thirdly, we will accelerate globalization of our business.
We have so far achieved impressive growth by transforming ourselves into an export-centric structure instead of remaining dependent on sales in the domestic market. And now we are facing another challenge due to changes in the global market such as excessive supply due to expansion of facilities.

I believe now is the time for each company to make efforts to achieve viable results in the global market by assessing where the promising global market is and which products will address needs of customers. This will help us to make significant tangible progress in exploring the global market.

Last but not the least, we will sharpen our competitive edge as a technology-driven company. The world is now moving fast toward more cost-efficient environment-friendly energy. And we are well aware of the fact that competing in the market by solely resorting to petroleum or chemical products is not as easy as it used to be. This supports the need to invest in development of high value-added products as well as technologies that help us to increase production efficiency and lead changes in the future.

With our advanced technologies, we are well positioned to compete with leading global energy, petrochemical, and material companies. Based on these technologies, I believe that we can become a top-tier company with leadership in the market and competitiveness by expanding the global market and developing new growth engine businesses. We will remain fully committed to shaping and building upon our advanced technologies which hold the future of SK Innovation, SK Energy, SK Global Chemical and SK Lubricants


Our valued customers and shareholders,

The year 2011 will bring us many great changes.

There are many things that we must do and we want to do. By working on these tasks one by one, we will have four solid companies that can achieve more dynamic and excellent growth.

As always, I would like to ask for your continued support throughout this year, and wish you and your families good health and happiness.

Happy New Year!

Ja-Young Koo
President & CEO, SK Innovation
January 1, 2011

하단 텍스트 참조

[SK Innovations CEO Koo Ja-Young]

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