SK Group
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.JPG)
The SK Group Headquarters in January 2014.
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| Public | |
| Industry | Conglomerate |
| Founded | April 8, 1953 |
| Headquarters | Seoul, South Korea |
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Key people
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Chey Tae-won, Chairman & CEO |
| Products |
Energy & Chemicals, Telecommunications, Trading & Services, Semiconductors, Construction, Shipping |
| Revenue |
 US$ 98.917 billion (2011) |
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US$ 1.51 billion (2011) |
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Number of employees
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70,000 (2012) |
| Website | www |
| Korean name | |
| Hangul | SK/ |
|---|---|
| Revised Romanization | SK Geurup/Esukei Geurup |
| McCune–Reischauer | SK Kŭrup/Esukei Kŭrup |
| (former) | |
| Hangul | |
| Hanja | |
| Revised Romanization | Seongyeong Geurup |
| McCune–Reischauer | Sŏnkyŏng Kŭrup |
SK Group (Korean: SK그룹, 에스케이그룹), also known as SK Holdings, is one of the largest conglomerates (chaebol) in South Korea. SK Group is composed of 95 subsidiary and affiliate companies that share the SK brand and culture. It changed its name from Sunkyoung Group (Korean: 선경그룹, Hanja : 鮮京그룹) to SK Group in 1997. SK Holdings ranked 57th in the 2013 Fortune Global 500. SK Group has more than 70,000 employees who work from 113 offices worldwide. While its largest businesses are primarily involved in the chemical, petroleum and energy industries, it also has South Korea's largest wireless mobile phone service provider, SK Telecom, and provides services in construction, shipping, marketing, local telephone, high-speed Internet, and wireless broadband service WiBro. SK has recently further broadened its range of business to semiconductors, merging Hynix into SK Hynix, the world's second largest memory semiconductor manufacturer.
As with many other chaebols, SK Group's chairmanship was 'inherited' from father to son: from its founder the late Chey John-hyun to its present chairman Chey Tae-won (eldest son). Chey Tae-won is married to the daughter of the former South Korean President Roh Tae-woo.
SK Group began when the current founders acquired Sunkyong Textiles in 1953. In 1958, the company manufactured Korea's first polyester fiber on company grounds. It established Sunkyong Fibers Ltd. in July 1969, and started to produce original yarn. In 1973, SK then established Sunkyong Oil, beginning a vertical integration strategy to manage production, "From Petroleum to Fibers”. That same year, the company acquired the Walkerhill Hotel.
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