SK Group Chairman Chey Tae-won: "AI is a Window of Opportunity... Rapid Change is the Key to Survival"

Chairman Chey Tae-won of SK Group is speaking during the closing session of the 'Icheon Forum 2024' held on the 21st. (SK Group)

Chairman Chey Tae-won of SK Group emphasized the need to quickly adapt to changes by seizing opportunities presented by artificial intelligence (AI). He stated, "Leveraging AI trends to drive change is the way to survive in the AI ecosystem."

According to SK Group, Chairman Chey made these remarks during the 'Icheon Forum 2024' held on the 21st, where he communicated with SK members in real-time both online and offline. He pointed out that the AI value chain is currently the most reliable revenue-generating sector and noted that "big tech companies are making significant investments to secure a competitive edge." He also expressed a positive outlook on the upward potential for growth in the AI industry.

Chairman Chey mentioned the potential for SK’s future business model to include the hardware business of AI data centers and the construction of large language models (LLMs). He acknowledged the challenges but stated that "once the business model is established, the entire cyclical process will be possible."

He shared the outcomes of recent discussions with global AI-leading companies such as NVIDIA, TSMC, and OpenAI, highlighting the substantial energy demands of big tech companies in AI data centers and emphasizing the importance of nuclear energy. He added that this presents new opportunities for SK.

Additionally, he reiterated the importance of SK's unique management system, the 'SK Management System' (SKMS), and urged that SKMS be revisited during times of change to strengthen SK's management DNA.

This year's Icheon Forum, held from the 19th to the 21st in Seoul and at various SK affiliates, was themed around 'AI Strategy and SKMS Implementation.' The forum featured lectures and discussions by global AI experts. Workshops were conducted by each affiliate to discuss ways to implement SKMS, and to concretize SK Group's future direction.

SK Group plans to incorporate the diverse opinions expressed at the forum into its management activities to drive substantial changes.