Latest news with #SKManagementSystem
Hans India
2 hours ago
- Business
- Hans India
SK Telecom to resume new eSIM-based subscriptions after data breach
SK Telecom Co., South Korea's leading mobile carrier, is set to partially resume new subscription services limited to eSIM starting later this week, following a recent large-scale data breach, industry sources said on Sunday. New subscriptions, which had been suspended nationwide, will resume at its retail stores starting Monday morning, according to the sources. The breach, first detected on April 18, involved the unauthorised exposure of data linked to universal subscriber identity module (USIM) cards. In response, SK Telecom has been replacing affected customers' USIM cards free of charge to prevent potential identity theft or financial fraud, reports Yonhap news agency. Full resumption of new eSIM services is expected shortly after Friday, when the bulk of the USIM replacements are projected to be completed. The Ministry of Science and ICT previously said SK Telecom would be allowed to resume new service operations once the USIM replacements for affected customers were finalised. Industry officials noted that the decision to partially restart new subscriptions was influenced by the nearing completion of the replacement process. The breach, first detected on April 18, involved a significant leak of universal subscriber identity module (USIM) data. In response, SK Telecom has offered to replace the USIM cards of all affected subscribers free of charge, in an effort to prevent identity theft and financial fraud. Meanwhile, SK Group, South Korea's second-largest conglomerate by asset, held a strategic management meeting to review its ongoing business reorganisation and discuss future growth initiatives. SKMS, or SK Management System, is the group's core management philosophy, emphasising fundamental principles and operational efficiency. The rebalancing strategy centered on selection and concentration, organisational control and financial stability. As part of these efforts, the number of SK affiliates has decreased from 219 last year to 198 this year through the consolidation of overlapping business operations.
Korea Herald
3 days ago
- Business
- Korea Herald
SK's top brass convene for strategy meeting to review business overhaul
SK Group's top executives have gathered for a two-day business management strategy meeting to assess the group-wide business restructuring efforts and discuss long-term growth strategies amid rapidly changing market conditions. Around 30 CEOs from major SK affiliates — including SK Group Chair Chey Tae-won, SK Supex Council Chair Chey Chang-won and SK Innovation Executive Vice Chair Chey Jae-won — are anticipated to take part in the annual meeting, according to industry sources on Friday. The high-level session is one of the group's four key annual events alongside the Icheon Forum in August, the CEO Seminar in October and the Directors' Summit in November. Sources assume that the key theme is once again portfolio 'rebalancing' — a group-wide initiative that SK launched last year to optimize business operations, streamline overlapping units and improve financial soundness. The rebalancing initiative revolves around three key principles: selection and concentration, span of control and financial health. Over the past year, SK's affiliates have accelerated structural changes, which analysts say have already begun to enhance the group's fiscal stability. Discussions will likely also extend to future growth engines, including strategic investments in artificial intelligence, advanced semiconductors and national-level core industries. Another agenda item will be operational improvement — an internal drive to refine management fundamentals based on the group's signature SK Management System philosophy. Reinforcing these principles is seen as vital to sustaining growth in an increasingly volatile global business environment. Following a recent cybersecurity breach involving SK Telecom, executives may also exchange ideas on how to rebuild consumer trust and bolster information security. As the group navigates a post-pandemic world marked by geopolitical tensions and technological upheaval, this year's management strategy meeting is expected to serve not just as a strategic checkpoint, but also as a forum to reaffirm SK's long-term commitment to innovation, governance and sustainable growth. SK chief Chey Tae-won is set to participate in the group's annual meeting following his participation in a morning meeting with President Lee Jae-myung and heads of five major conglomerates and six business associations.
Korea Herald
02-04-2025
- Business
- Korea Herald
SK digitally revives legacy of late chair
SK Group announced Wednesday that it has completed a two-year digital archiving project to restore and preserve the legacy of the late Chairman Chey Jong-hyun, a pivotal figure in South Korea's economic development from the 1970s through the 1990s. Dubbed the 'Sunkyong Chronicles,' the extensive archive includes 3,530 voice recordings of Chey and has been digitized for the first time, according to the SK Supex Council. The collection is expected to serve as a valuable resource for understanding the evolution of Korea's modern corporate and economic history. SK said Chey frequently recorded company reports, internal discussions, employee conversations and key meetings. His comments and leadership philosophy, captured throughout the archive, underscore his efforts to shape SK's management direction and elevate corporate governance standards in Korea. In a talk with new employees in 1982, Chey remarked, 'Even in a big country like the US, foreigners are hired for their talent. In a small country like Korea, forming factions based on region, school ties or social cliques is unacceptable.' In a 1992 meeting with executives from SKC, he stated, 'A floppy disk sells for one dollar, but once you put software in it, its value increases 20-fold,' stressing the need for Korea to move beyond hardware and focus on high-value industries. The archive also chronicles key moments in the formation of SK's unique management philosophy, the SK Management System (SKMS) — including decision-making processes, leadership interactions and dialogues with international business figures. The restored archive comprises approximately 17,620 items, including 5,300 audio and video files, 3,500 documents and 4,800 photographs. Altogether, these amount to 131,647 individual units. The 3,530 audio tapes of Chey's recordings alone amount to over a year's worth of continuous listening at eight hours per day, the company said. 'The late chairman's management records are treasure troves reflecting the thoughts and struggles of entrepreneurs who drove Korea's economic growth,' said an SK official. 'The volume and age of the materials made the project particularly challenging, but new technologies enabled us to restore and preserve their quality.' SK said it plans to use the digital archive to promote its core values and the SKMS philosophy across the group. The project was launched in 2023, following the publication of the '70th Anniversary Quotes Collection' that same year.
