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SK Chairman Suggests Creating Global Action Hub, Comprehensive Social Enterprise Platform Connecting the Entire World

On Monday, Chey Tae-won, Chairman of SK Group, proposed concrete plans to invigorate global social enterprise at the Rio+20 Forum held in Brazil on the 18th. He suggested “creating the Global Action Hub, the IT platform where the building blocks of social enterprise can be exchanged” to solve the social ills, striking a chord with about 2,500 experts at the forum.

SK Group Chairman Chey Tae-won participated in the SK's Social Enterprise Session held at the Windso ...

SK Group Chairman Chey Tae-won participated in the SK's Social Enterprise Session held at the Windsor Barra Hotel in Rio on the 18th to highlight the importance of enriching social entrepreneurship to address social issues with other panels. (In the picture, Paulo Sotero, Chey Tae-won, Celso Grecco, Nicolas Hazard and Vicki Sellick from the left)

Delivering a speech at the Closing Plenary Session of the Rio +20 Corporate Sustainability Forum, Chairman Chey underscored the importance of creating “an ecosystem for autonomous development of social enterprise” as prerequisite to bolster social enterprise.

Chey emphasized that the Global Action Hub is not just a simple IT platform but a comprehensive one where investors, experts and social entrepreneurs would join forces for networking, information exchange to further enhance positive effects by social enterprise. In other words, SK’s vision is to build a single international social enterprise portal, connecting the entire world.

SK and UNGC will be jointly driving the hub project to open it at the end of 2014 with further cooperation from partners like global companies and international organizations. When the system is ready to go, the information and human resources network will be built, which is crucial to start a social enterprise or to make investments. The long term plan is expected to include consulting or CSR evaluation services.

Chey added, “We will run a MBA program introduced by the KAIST, in tandem with the UN Principles for Responsible Investment, so that the values of the UN are naturally permeated through activities of social entrepreneurs.”

Chey also joined the social enterprise session organized by SK to discuss with experts the possibility of solving international problems through social enterprise for one and half hours. Among the panel were Vicki Sellick, Head of International Advisory at the Young Foundation, Nicolas Hazard Vice-Chairman of Groupe SOS, Celso Grecco President of the Social Investment Exchange in Portugal to share their ideas on how to create a global ecosystem for social enterprises.

At the session, Chey emphasized, “We need to bring innovation into traditional CSR activities. Considering the increasing influence of private sectors, developing and supporting social entrepreneurship will be an effective alternative for social participation activities,” adding, “To realize this aim, it is crucial for countries and sectors to cooperate with each other to expand the concept of social enterprise from a global perspective.”

Showing his strong commitment to nurturing the social entrepreneurship on the global stage, Chairman Chey travelled to Brazil to deliver a closing speech at Rio +20 forum, just right after he joined the UNGC social enterprise session held on June 17.

Lee Man-woo, President of SK Group PR Team, said, “Chairman Chey will do whatever it takes to energize social enterprise and drive in his attempt to address social problems across the world. As was shown at the Global Action Hub with his action plans in detail, SK Group will continue to work on fostering social entrepreneurship across the globe.”

About Chairman Chey Tae-won

Mr. Chey Tae-won is the chairman of SK Group which has leading companies in Korea’s key industries including energy and telecommunications under its wings. He has been dedicated to developing the economy of Korea while addressing social issues with his management philosophy of ‘Spreading Happiness’. Under his leadership, SK Group has grown into one of the most successful and respectable corporations in the country, and was ranked as 82th in the Fortune Global 500 last year. He is also a strong advocate of social entrepreneurship and has established a culture of sharing happiness in SK group.

About SK Group

SK Group has contributed to the growth and advancement of Korea by strengthening the nation’s key industries including energy and telecommunication. Its key affiliates include the largest petrochemical company (SK Innovation) and the largest operator (SK Telecom) by sales in the country. It also acquired SK Hynix, the world’s second largest memory chipmaker, this year. In 2011, SK Group recorded a profit of US$ 5.5 billion with US$ 134.1 billion in revenue. SK has also established and carries out a unique model of social commitment under its motto “Spreading Happiness”. For additional information about SK Group, please visit the company’s website at www.sk.com

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