SK Group conducted its annual executive reshuffle Friday, retaining the CEOs of major affiliates, including record-setting SK hynix, while reshuffling management at its energy-related units. Having replaced numerous affiliate CEOs last year, the group focused this time on maintaining leadership stability while promoting executives with specialized expertise to enhance business competitiveness. SK hynix CEO Kwak Noh-jung, who has led the company since March 2022, will retain his post. SK Group's holding company, SK Inc., also retained CEO Jang Yong-ho. However, Jang will step down as CEO of SK Innovation, a position he had held concurrently, to focus on leading the holding company. SK Inc. promoted Kim Sun-hyuk, head of strategy at SKC, to president overseeing portfolio management as part of efforts to accelerate the group's portfolio restructuring. In the energy and chemicals sector, the group appointed executives with expertise in managing external risks and developing new businesses to key leadership positions. SK Innovation named Cheong Seung-il, president in charge of future growth at

Nvidia is scheduled to fulfill its $1 billion investment in Naver next Friday, according to the portal giant's regulatory filing Friday, a move set to make the U.S. chip giant the third-largest shareholder of the Korean IT firm. The completion of the capital increase comes as Naver was able to secure at least $9 billion in computing infrastructure, the filing said. Naver will fix the number of common shares to be acquired by Nvidia via a rights offering on Tuesday. Currently, Korea's national pension fund is the largest shareholder with 9.49 percent, followed by BlackRock, a global asset manager, with 7.31 percent. The upcoming investment is part of a strategic partnership between Naver and Nvidia announced in July, to establish a massive, global artificial intelligence (AI) factory.

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