Executives at SK Geo Centric speaking on the plastic value chain and circular economy in this photo provided by the company.
SEOUL, Sept. 8 (Korea Bizwire) — South Korean conglomerates are leaving the door open for business expansion as they proclaim new company mission statements.
Hanwha General Chemical Co. announced a name change to Hanwha Impact, leaving out the word ‘chemical,’ which has been the company’s flagship business.
Hanwha Impact will go beyond the chemical industry to focus on making ‘impact investments’ in hydrogen, mobility, and others that positively influence society.
SK Global Chemical Co., too, changed its name to SK Geo Centric, which embodies the company’s new vision of engaging in a business activity that considers the environment and planet Earth.
Both companies have abandoned their identity as chemical companies to embody their newest vision, and incorporate environmental, social and governance (ESG) values into management.
SK Engineering & Construction Co. changed its name to SK ecoplant to go beyond the construction industry and become ‘Asia’s leading eco-firm.’
“As companies are jumping into new businesses for the future, they are increasingly preferring to come up with names that leave some room for business expansion,” an industry source said.
M. H. Lee (mhlee@koreabizwire.com)
