SK is committed to upholding and refining its governance framework to continue to exceed global standards and build trust with stakeholders. As part of our overall board-centered management philosophy, we seek to expand the authority and role of our board of directors.
To be effective, our board of directors must have independence, in-depth expertise, and diversity in its composition. These are the key qualities that we consider when forming our board, to build trust with stakeholders and ensure practical, well-informed decisions that further economic growth.
In keeping with our Double Bottom Line philosophy, board decisions also take into consideration how our company’s activities protect our global ecosystems and uplift the well-being of our employees, partners, and local communities. This includes enhancing lines of communication across markets and stakeholder groups.
SK's member companies have established a corporate governance charter to declare their commitment to board-centered management and to continuously and systematically apply its principles. Read more in SK Inc.’s Corporate Governance Charter.
Board of Directors Composition
To enhance the effectiveness of our boards, SK businesses seek to expand the proportion of outside directors, and strengthen the procedures and policies to fairly recommend, evaluate, and appoint new independent directors with the right blend of industry and management expertise.
Prior to appointment, each SK company comprehensively evaluates board nominees to determine applicable knowledge, experience, and ability. It’s equally important that any potential addition supports overall board diversity, to better reflect a holistic and inclusive perspective. SK is also further enhancing its training program for outside directors, and advancing the methods for evaluating board activities, so boards are continuously growing in professional capability and effectiveness.
SK’s companies have established specialized committees that play integral roles in the ongoing management of our board of directors:
Together, these specialized committees implement SK’s philosophy for board-centered management, by strengthening practical, in-depth discussions and independent decision-making.