Latest news with #CheyTae-won
Nikkei Asia
21 hours ago
- Business
- Nikkei Asia
Memory chip business to rely more on select customers: SK Group chairman
TOKYO -- The AI memory chip business is becoming more specialized but also more reliant on a small number of "locked-in" customers, according to SK Group Chairman Chey Tae-won. SK Hynix, the South Korean group's chip company, has made a name for itself amid the artificial intelligence boom as the primary supplier of high bandwidth memory (HBM) chips to Nvidia of the U.S.
Nikkei Asia
30-05-2025
- Business
- Nikkei Asia
SK Group chairman proposes joint South Korea-Japan purchase of US gas
TOKYO -- SK Group Chairman Chey Tae-won, a heavyweight in South Korean business circles, has proposed that his country and Japan jointly purchase liquefied natural gas from the U.S. in response to Washington's pressure to buy more American goods. Chey told Nikkei Asia that he is proposing this idea to South Korean and Japanese businesses to tackle "trade issues" that both countries have with the U.S. Chey was speaking on the sidelines of the Future of Asia forum in Tokyo.
Korea Herald
11-05-2025
- Business
- Korea Herald
SK Telecom debuts USIM reset tech without chip swap
Korea's top mobile carrier SK Telecom said Sunday it is introducing the new USIM reset solution that allows users to update specific USIM authentication data without physically replacing the chip. The technology alters part of the user identification and authentication information stored on the chip, leaving other user-saved data, such as mobile contact lists, prepaid transportation cards like T-money and mobile certificates, untouched. Unlike traditional USIM swaps, it eliminates the need to reconfigure financial authentication certificates. Available to both USIM and eSIM users, the reset process simplifies security management while minimizing user inconvenience. The service will be available at SK Telecom's T World stores for customers who receive a notification message regarding a USIM replacement. Starting Monday, the company will increase scheduling notifications for users who have prebooked a USIM chip replacement, as inventory supplies improve. SK Telecom also said that for customers who wish to switch to a physical USIM chip following a reset, the company will offer one free exchange at any T World store nationwide. Meanwhile, SK Group is taking steps to overhaul its cybersecurity infrastructure, with plans to launch a new in-house committee. The group reportedly discussed the direction and structure of the upcoming committee during a recent meeting of its strategy and globalization committee, chaired by Chey Chang-won, the head of the group's highest decision-making body, SK Supex Council. The move follows Chairman Chey Tae-won's public apology at Wednesday's press conference, in which he vowed to 'conduct a full-scale review of security systems across all SK affiliates and expand investment in cybersecurity infrastructure.' During the conference, he also pledged to form a committee involving external experts 'to ensure an objective and neutral approach to system improvement.' The committee will be formed under the guidance of the Supex Council and is expected to consist of internal and external experts. The council is composed of top executives from SK's major affiliates and oversees group-wide strategic and operational plans. Currently, the Supex Council operates eight subcommittees, including those focused on strategy and globalization, environmental business, ICT, talent development, communication, social value, governance and semiconductors.
![[Photo News] AmCham, KCCI, GM Korea to boost business ties](/_next/image?url=https%3A%2F%2Fwimg.heraldcorp.com%2Fnews%2Fcms%2F2025%2F05%2F08%2Fnews-p.v1.20250508.0e9bc5569d424528b64065941576fdcd_T1.jpg&w=3840&q=100)
Korea Herald
08-05-2025
- Automotive
- Korea Herald
[Photo News] AmCham, KCCI, GM Korea to boost business ties
From left: James Kim, chairman & CEO of the American Chamber of Commerce in Korea; Chey Tae-won, chairman of SK Group and the head of the Korea Chamber of Commerce and Industry; Hector Villarreal, president & CEO of General Motors Korea, pose for a photo during the signing of a tripartite memorandum of understanding to promote the 'Buy America' campaign. The AmCham-led campaign pledges mutual cooperation among all parties to expand consumer access to GM vehicles in Korea, promote the purchase of American-made products and contribute to a more balanced and mutually beneficial US-Korea trade relationship. (AmCham)
Korea Herald
07-05-2025
- Business
- Korea Herald
SK chief apologizes over SK Telecom data leak
Chey Tae-won calls hacking incident national security issue, pledges reform SK Group Chairman Chey Tae-won apologized on Wednesday for a recent hacking incident at SK Telecom that led to a massive data leak, pledging to bolster cybersecurity across the conglomerate's affiliates. Chey's apology came 19 days after the country's largest mobile carrier with 25 million subscribers -- nearly half of Korea's population -- disclosed that it had suffered a cyberattack and subsequent data breach of customers' USIM data on April 18. The data breach, caused by a malware attack inside a key internal system called the Home Subscriber Server, resulted in the leak of about 9.7 gigabytes of data. As of now, the exact cause and the identity of the attacker have not been officially confirmed. 'I sincerely apologize on behalf of SK Group for causing concern and inconvenience to our users and the public due to a cyberattack at SK Telecom,' Chey said at a press conference held at SK Telecom's headquarters in Seoul. Chey acknowledged the difficulties customers have faced, including long waits at retail stores to receive new USIM cards, and expressed regret at the company's inadequate communication and response following the incident. 'We will fully cooperate with the government investigation to identify the cause of the breach and to prevent further damage to customers,' Chey said. 'Separately, we will inspect the overall cybersecurity system of all SK affiliates and expand investment in security systems.' He also announced that the company will set up a new information protection innovation committee, comprising outside experts. SK Group plans to set up the new committee under the Supex Council, the conglomerate's top decision-making body. 'It is crucial that we properly establish a security system and address the issue not just as a security issue, but as one that concerns national security and lives,' he said. At the press conference, Chey revealed that he has not replaced his own USIM card but is subscribed to the company's USIM Protection Service. The company asserts that the USIM Protection Service effectively blocks the use of illegally cloned USIM cards on other devices, providing the same level of protection as physically replacing the USIM. As of Wednesday, all 24.11 million eligible customers have joined the USIM protection service, according to the company. About 1 million users remain unenrolled, as the service is currently incompatible with international roaming plans. The company said it is upgrading its system to allow users to use both services by May 14. Meanwhile, some 1.07 million users have switched their USIM cards so far. The company began offering free USIM chip replacements to all users on April 28, but the swap process has been hampered by overwhelming demand and a supply crunch. The company said it plans to secure around 5 million additional USIM cards this month and another 5 million in June, vowing to speed up the replacement process. Following the hacking incident, SK Telecom has experienced a user exodus to its main rivals, KT and LG Uplus. Amid growing calls to waive early termination fees for users, Chey said the issue is still under review. 'I also hope this issue will be resolved in a way that causes no inconvenience to customers,' said Chey. 'Concerns over user fairness and legal matters must also be reviewed. SK Telecom's board of directors is currently discussing the matter.'
