South Korean Conglomerate SK Group appoints 4 Female Board Chairs to Boost Diversity

• This year, SK Group has appointed four women as the chairs of their board
• SK hynix will be holding meetings for board chair election and the passing of outside directors on March 27

In a move towards greater gender diversity in its corporate governance practices, SK Group appointed four female chairpersons for the boards of its respective subsidiaries within this year. On March 27, with the annual shareholders' meeting and board meeting of SK hynix, the appointment of outside directors and the election of a new chairperson of the board will be approved.

Han Ae-ra of Sungkyunkwan University has reportedly been named the new chair of the SK hynix board, succeeding Ha Yung-ku, who is currently the chairman of Blackstone Korea. Ha, the first external director of SK hynix to chair the board was appointed in 2021 and will leave by the end of March.

A former judge, Han has been an outside director since 2020, beginning her second term in 2023. She attended all board meetings and chaired the audit committee, so she was recognized for her influence in strong board oversight. She is also seen as an expert in her field regarding gender issues, artificial intelligence, and arbitration.

March 26 saw shareholders' meetings held by SK Group affiliates, including SK Inc., SK Biopharmaceuticals, and SKC, to appoint new board chairs Kim Seon-hee, vice chairman, and former CEO of Maeil Dairies; Seo Ji-hee, a special professor at Ewha Womans University's School of Business; and Chae Eun-mi, former president of FedEx Korea.

Kim's experience in business is well respected and includes her work as the CEO of Maeil Dairies from 2014 to 2022; Seo has worked as an executive with KPMG Samjong Accounting Corp. and has provided advisory services in accounting, auditing, and risk management to various companies; and Chae, being the first Korean CEO to run FedEx Korea, is expected to further enhance the governance capacity of the board to match global corporate standards.

According to one industry official, "This year, SK Group is ramping-up efforts to improve board diversity and governance. Among South Korea's four major conglomerates, SK is leading the way in modernizing its board structure through a focus on both expertise and diversity."