Seoul: SK Group, South Korea's second-largest conglomerate by asset, announced plans for a strategic management meeting to evaluate its ongoing business reorganization and discuss future growth strategies. Around 30 executives, including Chairman Chey Tae-won, are set to attend the annual meeting, which will be held from Friday to Saturday at the SKMS Research Institute in Icheon, roughly 50 kilometers southeast of Seoul, as stated by a company spokesperson.

According to Yonhap News Agency, SKMS, or SK Management System, serves as the group's core management philosophy, emphasizing fundamental principles and operational efficiency. The meeting will focus on assessing the progress of a business rebalancing initiative launched a year ago to address inefficiencies and financial strain resulting from significant investments in the battery and energy sectors.

The rebalancing strategy focuses on selection and concentration, organizational control, and financial stability. Consequently, the number of SK affiliates has been reduced from 219 last year to 198 this year through the consolidation of overlapping business operations.

Additionally, executives are expected to deliberate on strategic investments in artificial intelligence (AI) and advanced semiconductor technologies, which SK considers vital growth drivers for the national economy. The meeting is also anticipated to address efforts to rebuild consumer trust following a recent data breach at SK Telecom, which potentially compromised the personal information of approximately 25 million users of the country's leading mobile service provider.

The data breach, first detected on April 18, involved a significant leak of universal subscriber identity module (USIM) data. In response, SK Telecom has offered to replace the USIM cards of all affected subscribers free of charge to prevent identity theft and financial fraud. "The details of the meeting will be disclosed on Sunday," the spokesperson noted.