Admirable Spirit of SK Founder, the Late Choi Jong-Hyun

The late Choi Jong-Hyun, the founder and the former president of SK, won the `New Millennium Foundation Prize` by the Business Administration circle.

The Institute of Korean Management History (chairperson Lee Gun-Hee, professor of Ewha Womans University), which is a meeting of 500 management professors, held an awarding ceremony at Samsung-dong KOEX building yesterday.

Son Gil-Seung, current president of SK, received the prize by proxy. The New Millennium Foundation Prize has been awarded to the founders who have contributed to the economic development and the growth of the enterprises since its first award in 1994.

The Institute appreciated that the late founder had increased the company`s management to the international level by the human-oriented management that emphasizes the equal development of the employers and the employees.

The Institute lists the most outstanding achievements of Choi Jong-Hyun as following; the `vertical systemization` from the textiles through fiber and oil to the information technology business, the creation of the harmonious business culture between the company and the individuals, and his cremation contributing to the funeral culture reformation even after his death. The Institution will publish a memorial book called, `A Research on Choi Jong-Hyun.`

Moon Kwon-Mo africa7@donga.com