By Park Si-soo
SK Group Chairman Chey Tae-won, who was behind bars for nearly three years, is seeking to regain control of the country's third-largest conglomerate and propel its slowed growth.
The group has been unable to make timely business decisions because of Chey's absence.
Unlike other convicted CEOs who normally took months-long leave after being released from prison to prepare for return, Chey has come to his office in downtown Seoul every day since he was freed on a presidential pardon on Friday.
He came to the office Sunday morning. "I came to catch up with issues I need to know," he said in the lobby at SK head office. "I will decide my next schedules after talking with executives."
On Saturday, he was briefed about major business issues by key executives, including Kim Chang-geun, chairman of Supex the group's top decision-making body; SK Telecom president and CEO Jang Dong-hyun; SK hynix CEO Park Sung-wook; and SK Planet CEO Seo Jin-woo. They also discussed ways to revitalize the sagging economy, according to SK officials.
They said Chey earlier dropped by SK head office on his way home from prison on Friday night.
"He seems to be committed to taking back control as early as possible," a SK official said, Sunday. "He visited the head office two times after being released. This shows his strong commitment to resume working as early as possible."
She said the company was soon expected to unveil large-scale investment plans, which were left undecided during Chey's absence.
The official said Chey spent much of his time thinking of SK's contribution to the nation's economic development.
"He knows why he was pardoned and reinstated to his position," she said.
President Park Geun-hye pardoned Chey, along with 13 other business leaders, believing their return to office will help revitalize Korea's economy.
Upon release, the neatly dressed chairman said he would make "all-out efforts to help the nation's economic development."
Experts said the chairman's return would facilitate SK's recovery with stability in its management. They said his absence had left the company reluctant to make decisions on big budget projects at home and abroad so the company had lost several profitable deals.
"SK will expand investment and employment," a SK official said. "The chairman will play a central role in implementing this."
The chief's imprisonment derailed several SK investment plans ― the company spent 15 trillion won expanding manufacturing and research and development facilities in 2012, but this fell to 13 trillion won in 2013.
Industry observers expect SK's key affiliates will unveil a series of investment plans soon.
Many of the observers believe SK Hynix will lead the investment drive because the company has turned in an shown impressive performance this year on soaring demand for its high-end chips.
They expect SK to come up with more aggressive ways to tackle youth unemployment, for which President Park is seeking the cooperation of big companies.
Last week, SK unveiled a two-year startup incubating project, though which it aims to create more than 20,000 jobs for young adults.
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| SK Group Chairman Chey Tae-won steps into the lobby of the group's head office in downtown Seoul, Saturday. / Yonhap |
The group has been unable to make timely business decisions because of Chey's absence.
Unlike other convicted CEOs who normally took months-long leave after being released from prison to prepare for return, Chey has come to his office in downtown Seoul every day since he was freed on a presidential pardon on Friday.
He came to the office Sunday morning. "I came to catch up with issues I need to know," he said in the lobby at SK head office. "I will decide my next schedules after talking with executives."
On Saturday, he was briefed about major business issues by key executives, including Kim Chang-geun, chairman of Supex the group's top decision-making body; SK Telecom president and CEO Jang Dong-hyun; SK hynix CEO Park Sung-wook; and SK Planet CEO Seo Jin-woo. They also discussed ways to revitalize the sagging economy, according to SK officials.
They said Chey earlier dropped by SK head office on his way home from prison on Friday night.
"He seems to be committed to taking back control as early as possible," a SK official said, Sunday. "He visited the head office two times after being released. This shows his strong commitment to resume working as early as possible."
She said the company was soon expected to unveil large-scale investment plans, which were left undecided during Chey's absence.
The official said Chey spent much of his time thinking of SK's contribution to the nation's economic development.
"He knows why he was pardoned and reinstated to his position," she said.
President Park Geun-hye pardoned Chey, along with 13 other business leaders, believing their return to office will help revitalize Korea's economy.
Upon release, the neatly dressed chairman said he would make "all-out efforts to help the nation's economic development."
Experts said the chairman's return would facilitate SK's recovery with stability in its management. They said his absence had left the company reluctant to make decisions on big budget projects at home and abroad so the company had lost several profitable deals.
"SK will expand investment and employment," a SK official said. "The chairman will play a central role in implementing this."
The chief's imprisonment derailed several SK investment plans ― the company spent 15 trillion won expanding manufacturing and research and development facilities in 2012, but this fell to 13 trillion won in 2013.
Industry observers expect SK's key affiliates will unveil a series of investment plans soon.
Many of the observers believe SK Hynix will lead the investment drive because the company has turned in an shown impressive performance this year on soaring demand for its high-end chips.
They expect SK to come up with more aggressive ways to tackle youth unemployment, for which President Park is seeking the cooperation of big companies.
Last week, SK unveiled a two-year startup incubating project, though which it aims to create more than 20,000 jobs for young adults.
