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SK Group's head honchos ponder global risks at CEO seminar

Published: 16 Oct. 2023, 16:48

JIN EUN-SOO
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SK Group Chairman Chey Tae-won speaks at the last year's CEO seminar held in Jeju Island. [SK GROUP]

SK Group began its internal CEO seminar in Paris on Monday, bringing together some 30 executives to discuss global risks, including the ongoing war between Israel and Hamas.

This year's CEO seminar, one of SK Group's biggest annual C-level events, is the first to be held outside Korea in 14 years. The last one held overseas was in 2009 in Beijing, China.

SK Group Chairman Chey Tae-won and SK Supex Council Chairman Cho Dae-sik will attend the three-day event, which ends Wednesday.

The ongoing conflict between Israel and Hamas will likely be discussed during the three-day event as SK Innovation's petrochemical business forms a central pillar of the group's portfolio.

If the geopolitical risks in the Middle East expand, Korea's oil supply could be affected as 70 percent of the country's oil imports pass through the Strait of Hormuz.

Chey has emphasized countering geopolitical risks for SK's business at major forums.

At last year's CEO seminar, he said the company “has to be aware of the possibility that risks regarding the macro environment such as the geopolitics will rise in the future."

He also mentioned the importance of “scenario planning” during an "Expansion Management" meeting early this year to respond flexibly to risk elements and opportunities.

BY JIN EUN-SOO [[email protected]]