SKMS is the business management system unique to SK Group comprised of SK’s management philosophy and the methodology to implement this into actual management. Since first being established in 1979, SKMS has set the basic direction for management as the foundation of SK’s corporate culture with constant development, and has served as the standard for the company to carry out business activities as well as for members to perform their duties and make the right decisions.

SK is seeking sustainability management based on the management philosophy specified in SKMS: ‘The company must maintain stability and growth and continue to survive and develop. By doing so, we must perform a key role in social and economic development by creating value for customers, members, and shareholders, thereby contributing to the happiness of humanity.’

DBL refers to SK’s management principle of striving to achieve shared growth with society by creating economic value (EV) and enhancing social value (SV) in all business activities going beyond the ‘single bottom line’ that pursues only economic value and profit.

Recently, there have been rapid changes in human life overall with the advancement of digital technology. All social components are closely linked to one another, entering the so-called hyperconnected society. Accordingly, firms can no longer just pursue economic benefits but instead require a new paradigm in their relationship with the society. Moreover, the scope of stakeholders for firms, which had previously been comprised of customers, shareholders, and the society, has been expanded to the government, partners, NGOs, and the general public.

With all these changes, expectations for the social role of firms is increasing among the stakeholders. Therefore, firms must strive to create social value (SV) by considering even the non-financial elements required by stakeholders such as the environment, society, and governance in addition to economic value (EV). A firm’s sustainability management cannot be secured without trust and support from the stakeholders.

DBL is absolutely necessary as a core business strategy and principle for SK to prepare for future uncertainties by continually creating happiness for all stakeholders and to keep surviving and developing.