- SK rent-a-car hit KRW 1 trillion in revenue last year on the strength of the robust growth in the long-term rental along with the booming short-term-rental market in Jeju
- Appointment of Lee Ho-jeong as other non-executive director, partial amendment to the Article of Incorporation with the purpose of the expansion of customized O2O vehicle management service
- “We are going to take up a notch ourselves to deliver higher values to customers and shareholders as a mobility life provider”

SK rent-a-car (CEO: Hwang Il-moon) announced on the 28th that it convened the 34th regular general meeting of shareholders in Samil Building in Jongno, Seoul to make decisions on the approval of financial statements, partial amendment to the Article of Incorporation, and the appointment of directors, and all the agenda items were passed as drafted.

Amid the disruption caused by the prolonged COVID-19, the company hit KRW 1 trillion in revenue for the first time last year. In detail, it delivered KRW 1036.9 billion in sales (KRW 863.5 billion in the previous year) and KRW 79.1 billion in operating income (KRW 70.8 billion in the previous year) on a consolidated basis.

The robust growth of long-term rental business came with the booms of short-term rental and secondhand car businesses. When it comes to consumption patterns, we are seeing a shift to ‘use’ form ‘ownership’. In addition, the issue of semiconductor supply delayed the delivery of new vehicles. More customers switched to long-term rental as an alternative of car purchase for these reasons, which took a turn favorable for the secondhand vehicle market. Especially, the no. of short-term rental customers soared in Jeju in the vice grip of COVID-19 pandemic.

SK rent-a-car added ‘location intelligence business’ as one of its purpose businesses aiming to ensure safety by collecting data in person and render customized services. Along with this, the expansion of O2O (Online to Offline) vehicle management service will be made in order to sharpen its competitiveness. With the purpose of promoting a relevant new business model, it added ‘mail order brokerage business.’

By doing this, SK rent-a-car refines its comprehensive vehicle management solution, ‘Smartlink’ while collaborating with ‘Carang’, an O2O platform operator for on-site vehicle maintenance, in order to give concrete shape to on-site O2O maintenance service using its vehicle management application, ‘Smartcare’.

When it comes to director appointment, Lee Ho-jeong, the head of New Growth Promotion Headquarter of SK networks has been newly appointed as other non-executive director. Mr. Lee drove the investment in ‘Everon’, EV charging business operator, in SK networks. He is expected to play a pivotal role in evolving SK rent-a-car into an EV-centric mobility rental company in association with SK networks. Besides, Director Park Hae-sik and Kim Byeong-ok whose tenure is about to expire have been appointed as independent directors. They will continue to serve as the members of Audit Committee launched last year.

On this day, the CEO of the company said, “in the face of the rapidly changing mobility industry, we put our focus on laying the growth foundation for EV service business, innovating online-centered business models, and embedding ESG culture into every corner of our company”. He also added, “SK rent-a-car will do our best to deliver maximized shareholder value by reinventing ourselves as a company that brings a higher level of mobility life to our customers and society down the road.”

[Photo 1] SK rent-a-car’s CEO, Hwang Il-moon, giving opening remarks

[Photo 2] SK rent-a-car’s 34th Regular General Meeting of Shareholders (1)

[Photo 3] SK rent-a-car’s 34th Regular General Meeting of Shareholders (2)