Korea's SK Group is redefining the role of the global corporation in the 21st century by basing its business on three core principles: creating customer and shareholder value, playing a key role in social and economic development, and contributing to society's happiness. With 70,000 employees in 95 affiliate companies (March 2012) that range from energy to telecommunications, SK believes that being a global corporation means more than just controlling ever-larger chunks of the marketplace. A truly great global corporation works relentlessly to create opportunities for all stakeholders â€“ shareholders, customers, employees and community members â€“ and this is how happiness travels from hemisphere to hemisphere. SK's underlying philosophy is that when employees are satisfied, performance is maximized because voluntary and willing brain engagement is the most valuable intangible asset in the company. SK also assumes its employees will practice self-control and grants the privilege of designing their own favourable work environment. This philosophy is embodied in the unique SK Management System (SKMS) implemented in 1979.