Jung Seung-il, former Vice Minister of Trade, Industry and Energy, has been named president in charge of future growth at SK Inc. (034730), the holding company of SK Group.
According to business circles on Tuesday, SK will appoint the former vice minister to the newly created post of president in charge of future growth as early as the 1st of next month.
Jung graduated from Kyungsung High School and Seoul National University with a degree in business administration, and entered public service through the 33rd administrative examination. He served as head of the trade and investment office, head of the energy and resources office, and vice minister at the Ministry of Trade, Industry and Energy, and later served as president of state-run energy firms Korea Gas Corporation and Korea Electric Power Corporation (KEPCO). After leaving public office, he worked as a management advisor at Trustone Asset Management, an outside director at Saudi Electricity Company, and an outside director at Samsung Electro-Mechanics.
Jung, who joined SK hynix as an advisor in January this year, has taken on a key role in the new organization just five months later. Rather than working behind the scenes to coordinate the power supply and supply chain stabilization needed for SK hynix's semiconductor investments, he will now stand at the forefront of directly establishing the group's future growth strategy.
As SK Group Chairman Tae-won Choi has repeatedly stated his intention to evolve SK into an "artificial intelligence (AI) full-stack provider," Jung is expected to focus on devising measures to give shape to this vision. An AI full-stack provider is a strategy that offers the entire process of the AI value chain — from semiconductors to data centers, power and energy solutions, and AI services — as a single package.
