- Sales of KRW 13 trillion and operating income of KRW 109.4 billion in 2019... from business structure transition to future growing businesses focused on rental services
- CEO Park’s words, “Seeking measures to keep stakeholders happy through customer-oriented BM innovations, self-tender, etc.”
- SK rent-a-car held a General Shareholders’ Meeting on the 24th... confirmed its commitment to “enhance shareholder value through the synergy of tradition and innovation"

SK networks held the 67th General Shareholders’ Meeting on March 25th, 2020 at the Myeongdong head office and approved various agenda items including financial statements, partial modification of the Articles of Incorporation, director appointments, etc. as they were originally proposed.

In the midst of adverse business conditions including global economic instability and domestic economic recession last year, SK networks still recorded annual sales of KRW 13.5 trillion and operating income of KRW 109.4 billion based on consolidated financial statements by transforming its business structure centered around rental services for household appliances and rent-a-cars.

In particular, SK magic achieved 1.8 million rental accounts thanks to intensive investment in technology and design in addition to a high annual profit growth of 20%. The rent-a-car business, with the takeover of AJ rent-a-car, became stronger as one of the two major players and finalized the arrangement for launching SK rent-a-car as a joint corporation.

It was made clear in the Articles of Incorporation that the corporate objective is to keep its members and stakeholders happy, and unnecessary provisions were modified following the introduction of an electronic registration system for stocks and private loans.

Regarding appointments, Director Sang-kyu Park (CEO & President) and Director Cheon-se Lee (independent director, Audit Committee member) were reappointed for another term.

Park said, “Even though uncertainties in business conditions are increasing worldwide, our efforts will be devoted to reinforce our profit structure and financial stability by expediting our business portfolio transition focused on future growing businesses, and to raise corporate value to the extent that stakeholder expectations will be satisfied through sustained customer value innovations and share price stabilization measures such as self-tender.”

SK rent-a-car, a subsidiary of SK networks, made a new start this year as a joint corporation and held a General Shareholders’ Meeting on the 24th, one day earlier than SK networks. Mong-ju Hyeon, the President of SK rent-a-car emphasized, “In order to raise shareholder value, AJ rent-a-car’s tradition and innovative competences of SK networks will be combined for sustained improvement of current products and services as well as new, differentiated service model releases based on digital technologies.

Meanwhile, in preparation for the General Shareholders’ Meetings, special preventive disinfection measures were arranged by SK networks and SK rent-a-car for meeting venues, entry/exit points, handles, rest rooms, etc. Efforts were made to prevent COVID-19 infections by placing sanitizers and thermo-graphic cameras at entry/exit points and providing facial masks to shareholders.