SK announces happiness as its focus, not profit

SK Group’s primary goal is maximizing the “happiness” of interested parties rather than focusing on generating profits, it announced during SK Holdings’ annual shareholders meeting on Friday.

The company added a new clause in its Article of Incorporation, stating that it will work on “balancing and harmonizing the happiness of all interested parties” and valuing “mutual development with society in both economic and social terms.”

The word “interested parties” indicates not only shareholders, but also employees, clients, consumers and the society at large, according to a group spokesman.

The Articles of Incorporation are a set a documents submitted to the government when establishing a company.

It includes statements that the company regards as its purpose for corporate activities and is a symbolic guideline for its mission.

Also on Friday the decision was made to grant stock options to some of its senior executives.

It a system the company revived, after abolishing it in the early 2000s, in order to promote responsible management.

BY SONG KYOUNG-SON [song.kyoungson@joongang.co.kr]