On April 8, 2026, the heart of Seoul’s Jongno-gu quietly pulsed with a sense of history and anticipation as SK Group, one of South Korea’s most influential conglomerates, marked its 73rd anniversary. The occasion, dubbed ‘Memorial Day,’ unfolded at Sunhyewon—a location steeped in the company’s lore, once the personal residence and research haven of founder Chey Jong-gun, and, since 1990, a hub for nurturing SK’s talent. The event, held behind closed doors, drew together about 40 of the company’s top brass, including Chairman Chey Tae-won and other prominent family members, to reflect on the past and chart a course for the future.
The morning’s proceedings began in subdued fashion. From around 9:30 AM, a procession of black sedans bearing distinctive green license plates rolled up to Sunhyewon, signaling the arrival of the day’s key participants. Chairman Chey Tae-won himself arrived at 10:37 AM, according to coverage by Newsis and Econovill. Before the main event officially kicked off at 11:00 AM, attendees gathered to watch a 20-minute memorial video, paying tribute to the group’s founders and taking time to wander the grounds of Sunhyewon. The name, which means ‘to bestow wisdom,’ was chosen by the late Chairman Chey Jong-hyun, reflecting a legacy of thoughtful leadership.
As the group settled in for the main ceremony, the mood was solemn and contemplative. The private gathering wasn’t just about commemoration; it was a moment for SK’s leadership to revisit the management philosophies that have guided the conglomerate through decades of change and challenge. In a year marked by persistent high inflation, volatile exchange rates, and geopolitical tensions—particularly in the Middle East—the gathering took on added significance. According to Econovill, the company’s leaders used the occasion to reaffirm a commitment to strengthening SK’s fundamental competitiveness and to double down on responsible, resilient management in uncertain times.
Much of the conversation centered on the values and visions of SK’s founding figures. Chey Jong-gun, who launched the company in 1953 as Seonkyung Textile, was a firm believer in corporate patriotism, often saying, “The company’s progress is the nation’s progress.” His encouragement to employees—“There is no obstacle we cannot overcome with our wisdom and courage”—still resonates within the halls of SK today. These ideals found new expression under his brother and successor, Chey Jong-hyun, who steered the group through the turbulent waters of the 1970s and beyond. Chey Jong-hyun’s signature achievement was the creation of the SK Management System (SKMS), which blended Western rational management with Eastern, human-centered philosophy. His oft-cited mantra, “First human, second human, third human,” became the bedrock of SK’s corporate culture, emphasizing people over process and fostering an environment of autonomy and continuous learning. It was Chey Jong-hyun who established Korea’s first corporate training institute, abolished the chairman’s signature line and punch cards, and championed overseas MBA programs for employees—all in the name of empowering SK’s workforce.
Sunhyewon itself stands as a testament to these values. Once a private residence and research center, it has, since 1990, served as a space for cultivating the next generation of SK leaders. The group’s decision to host its anniversary at this historic site for the second consecutive year underscores the enduring importance of its roots, even as it looks to the future.
But SK Group hasn’t survived on tradition alone. Over the past seven decades, the conglomerate has transformed from a textile manufacturer into a heavyweight across energy, information technology, semiconductors, and batteries. The 2012 launch of SK Hynix, now a global force in the semiconductor industry, was a turning point—one that fundamentally altered the group’s trajectory. Today, SK Hynix stands at the vanguard of the AI revolution, with securities analysts predicting first-quarter 2026 revenues of approximately 50 trillion won and operating profits around 35 trillion won. This surge is credited to booming demand for high-bandwidth memory (HBM) products, which are critical components in the rapidly expanding field of artificial intelligence.
Chairman Chey Tae-won, in his New Year’s address, captured the sense of boundless possibility ahead, declaring, “The AI era is just beginning, and the market opportunities will be immense.” This optimism is more than just rhetoric. SK Group is actively restructuring its business around artificial intelligence, aiming to stay ahead of the curve as industries worldwide are reshaped by digital transformation. Major affiliates, including SK Inc. and SK Innovation, have committed significant investments to establish a new AI investment corporation in the United States. The centerpiece of this push is SK Hynix’s plan to invest about $10 billion in a dedicated ‘AI Company’ on American soil, tasked with spearheading global AI investments, business commercialization, and expanded ventures in data centers and AI system technologies.
According to Newsis, this strategic pivot is seen as a bid to secure a leadership role in the global AI ecosystem, leveraging SK’s strengths in energy, telecommunications, and semiconductors. The group’s leaders believe that by combining these capabilities, SK can carve out a unique position at the intersection of next-generation technologies. The 73rd anniversary event, then, was not just a nostalgic look back but a forward-looking review of SK’s evolving strategy—an opportunity to ensure that the pioneering spirit of its founders continues to inform decisions at the highest level.
Responsible management and shareholder value were also in the spotlight during the day’s proceedings. Key executives, including President Kwak No-jung, exercised stock options to purchase approximately 6.2 billion won worth of SK shares, a move interpreted by Econovill as a gesture of accountability and a signal of confidence in the group’s future direction.
After the formalities concluded, attendees gathered for a lunch, sharing insights and reaffirming their collective resolve to navigate the challenges ahead. The consensus was clear: in a world of mounting economic and geopolitical uncertainties, SK’s best defense remains its founding principles—adaptability, resilience, and a steadfast focus on people.
For SK Group, the 73rd Memorial Day was more than an anniversary. It was a powerful reminder that even as the company races toward an AI-driven future, its roots in human-centered management and national progress are what continue to set it apart.