• SKC shareholders' meeting • board of directors are convened
  and CEO Woncheol Park is newly appointed • • Kick-off year of financial story
  execution, ramping up Deep change

• Greater active market communication through a video “The youngest
  members interviewing the CEO”, • • • • Striving to be "Korea's representative
  ESG material solutions company"

• Appointment of outside director Park Young-seok as the new
  chairman of the board of directors • • • Continuing to advance governance, such
  as improving the independence of the board of directors.

SKC held a shareholders' meeting
and board of directors’ meeting on the 24th and appointed President Woncheol
Park as its new CEO. SKC will mark this year as the kick-off year of implementing the
"Financial Story" and ramp up deep change initiatives _ base_d on new
leadership to leap ahead as a representative global ESG material solutions
company in Korea.

SKC President Woncheol Park is a
new business expert who has been in charge of global growth and business
discovery at the SK SUPEX Council with a distinguished career at global
consulting firm BCG (Boston Consulting Group), GS Energy, and Hana Asset
Management. He has led SK Group's global investment in Masan Group and Vingroup
in Vietnam, and TBM, a Japanese eco-friendly material company. He has been the
president of SKC since January this year.

'Nice
to meet you, CEO Sir’ was produced with a unique concept where two of the youngest
members ask questions about the aspirations and visions of newly appointed CEO
Woncheol Park in an interview posted on video. When asked about when SKC's new
plan for a leap ahead would be unveiled, SKC CEO Woncheol Park replied,
"From April, we will disclose our plans for new innovation while
communicating with the market through various opportunities and in various
formats," in a sign of more active communication with stakeholders.

When
asked about how SKC will be transformed anew in the future, CEO Woncheol Park
said, "I think that specifying how much in sales and operating profit would
only set limits in advance on our own growth. We will position SKC as the materials
company of the SK Group that is _ eval_uated as a top pick in our market, as well
as a global ESG material solutions company that sets the standards in Korea.”

CEO Woncheol Park, who has led
various global investments for the SK Group, also alluded to the philosophy of
global expansion, saying, “You have to discard your preconceived ideas and stay
focused yet flexible.” He said, “In a new market, the existing formula for success
and know-how must be re_ eval_uated to break away from preconceptions.” "We
need to devise new strategies for each region and business line, while responding
without losing focus on why we started our business," he added.

Meanwhile,
at the SKC board of directors’ meeting this day, outside director Park
Young-seok was appointed as the new chairman of the board. With an outside
director serving as the chairman of the board, the independence of the board would
be enchanced. Park Young-seok, the new chairman, is highly regarded as one of
the best experts in Korea’s capital markets, having served as the head of both
the Korea Securities Association and the Korea money & Finance Association,
a member of the Financial Development Council of the Financial Services
Commission, and head of the Korea Capital Market Institute.

Moreover,
Kim Yang-taek, head of SK's Advanced Materials Investment Center, was appointed
as a non-executive director. With Mr. Kim’s know-how in leading investments in
semiconductors and batteries at SK Corp, SKC's board of directors has further
strengthened its business expertise. [End]

[SKC
CEO Woncheol Park]