- To prepare its conversion to a business-type investment company and focus on synergy effects between the parent company and its subsidiaries
- Reinforcement of organizational functions as to ensuring new growth engines and digital capabilities
- Seven executive transfers and 3 new appointments ... major investors are represented by new faces...

SK networks announced on the December 3rd, 2020 that a regular organizational restructuring and executive reshuffle was made for three major purposes: to prepare itself to convert into a business-type investment company; to increase synergy effects between SK networks and SK magic-SK rent-a-car; and, to reinforce the integrated management to achieve improved efficiency.

An SK networks executive explained, “This organizational restructuring is oriented towards enhancing execution capabilities and synergy effects of our current businesses as well as creating and operating organizations to identify new growth engines,” and further commented, “Executive reshuffle is made in consideration of critical capabilities, future growth potentials and diversity.”

In this regard, two new organizations are being created: General Business Office and Management Support Headquarter; and, Seong-hwan Choi, head of Planning Office is being appointed for General Business Office. In addition, New Growth Promotion Headquarter is positioned under the General Business Office to perform tasks related to investment management and M&A. Management Support Headquarter has strengthened internal organizations to integrate management and support activities for the parent company and investors as well as to enhance AI digital capabilities. Furthermore, a team-based Mintit organization is expanded and reorganized as a business unit to accelerate the used phone recycling business.

For Walkerhill and major investors, representatives were newly appointed and replaced with a focus on the ability to perform key tasks for future growth and manage changes.

Important aspects for SK magic were enhancing its competitive edge centered around technology and design as well as increasing business execution capabilities for global businesses. This task was delegated to Yo-seob Yoon, Head of Management Strategy Headquarter, appointed as the new representative. In the meanwhile, President of SK rent-a-car and Head of Walkerhill exchanged their roles as Representative Il-moon Hwang is now in charge of SK rent-a-car which requires new additional strategic actions after its start as an integrated corporation, and General Business Officer Mong-joo Hyeon takes responsibility for Walkerhill which needs to make a turnaround from COVID-19.

Through this executive shuffle, seven executives were transferred and three new executives were appointed for the parent company and investors.

An SK networks executive commented, “This executive shuffle will lead to an organizational restructuring of internal teams so that they can achieve business model innovations, digital technology integration and customer/social value enhancement,” and emphasized, “We will continue to increase our capability to execute changes for the company’s future growth based on a positive mental attitude.”

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[Transfers (7 executives)]
  - Ho-jeong Lee (Head of Management Support Headquarter and New Growth Promotion Headquarter)
  - Yoon-eui Kim (Head of ICT Business and Representative of SK Networks service)
  - Mong-joo Hyeon (Head of Walkerhill)
  - Il-moon Hwang (Representative of SK rent-a-car)
  - Young-wook Jang (Head of SpeedMate business unit)
  - Jeong-sik Shin (Head of SK rent-a-car Rental business unit)
  - Bo-hyeong Lee (Head of SK magic Customer Value Innovation Office and Representative of SK magic service)

[New Appointments (3 executives)]
  - Woo-sun Jeong (Head of Planning Office)
  - Won-hee Lee (Head of SK magic Product Strategy Office)
  - Jin-sik Kim (Head of SK rent-a-car EV business unit)