SK chairman’s young brother very likely to return to administration

SK Team Government Vice Chairman Chey Jae-gained (SK Team)

Speculation is growing about the chance of SK Chairman Chey Tae-won’s youthful brother Chey Jae-won returning to administration to choose the helm of the group’s refining and petrochemicals device SK Innovation, in accordance to marketplace resources on Monday.

The junior Chey, who served a a few-and-50 percent yr jail expression for embezzlement in 2014, faced work constraints for 5 yrs.

Chey Jae-won, who holds a bachelor’s diploma in physics from Brown and a master’s degree in elements science from Stanford, was deeply associated in SK Group’s burgeoning battery organization. It was him who recognized the prospective of the electric motor vehicle enterprise from early on and advised his older brother to make aggressive investments in the subject.

Even though SK Innovation just lately split off its battery company into SK On, he is probable to lead the mother or father enterprise contemplating his possible posture that oversees the group’s sprawling energy business, resources said.

Inspite of his work restrictions, the junior Chey has experienced a existence about the organization as he has attended the group’s essential battery occasions in current yrs. He was present when his brother satisfied with Hyundai Motor Group Chairman Chung Eui-sunshine final calendar year at SK Innovation’s battery plant in Seosan, South Chungcheong Province. He also accompanied the SK chairman in his US excursion before this year to check out the group’s financial investment standing there. He also participated in the groundbreaking ceremonies of SK Innovations’ battery vegetation in Hungary and the US point out of Georgia.

Continue to, some observers predict that the youthful Chey might return to SK E&S, the group’s pure gasoline and hydrogen organization unit. SK E&S is the only SK Team affiliate exactly where he has taken care of an formal write-up as an unregistered consultant.

The incumbent main executives of SK Innovation and SK E&S are Kim Jun and Choo Hyeong-wook.

By Kim Byung-wook ([email protected])