SK Holdings, SK Group’s holdings company, reorganized its divisions on Oct. 1 as part of efforts to increase the efficiency of its operations, the company announced Wednesday.

In making the changes, the company merged the two divisions responsible for developing means for future growth ― the Global and Growth division and the Technology Innovation Center ― under the Global and Growth division.

The company said the change was aimed at improving the efficiency of its growth management and to speed up the process of reaping the results from its plans for the global market.

Following the changes, the company now comprises of five teams ― support, finance, corporate culture, legal, as well as corporate and public relations ― and a department for management planning in addition to the Global and Growth division.

The company added that with the establishment of team-based structure, the decision making process has been simplified to a two-step process from the four-step process in place under the previous system.

SK Holdings also said that the CEOs of SK Group companies have agreed to establish a division for supervising responsible management practices and that it will begin operations as soon as related systems are in place.

By Choi He-suk  (cheesuk@heraldcorp.com)