SEOUL, Jul. 30 (Korea Bizwire) — Expect crowded beaches and airports as major industries in the Ulsan area have begun official their official summer vacation. Depending on their line of work, however, the mood of some workers may be gloomier than usual. The shipbuilding industry’s well publicized struggles in the face of plummeting demand has [...]
SEOUL, May 31 (Korea Bizwire) – SK Innovation Co., South Korea’s top oil refiner, said Wednesday that it plans to spend 10 trillion won (US$8.91 billion) in the battery and other non-refining sectors by 2020 to reshape its business portfolio and nurture new revenue sources. In a regulatory filing, SK Innovation said the investment will [...]
SEOUL, May 30 (Korea Bizwire) – SK Innovation Co., South Korea’s top oil refiner, plans to put more focus on its battery and petrochemical businesses in order to stay ahead of its rivals and secure stable income, its chief said Tuesday. “We will heavily invest in the battery and petrochemicals sectors, thus helping SK Innovation [...]
SEOUL, May 15 (Korea Bizwire) — South Korean oil refiners, led by top player SK Innovation Co., logged decent earnings in the first quarter of the year on the back of robust petrochemical business, and expect their bottom line to remain firm under the current quarter thanks to the recovery of their refining margin, industry [...]
SEOUL, April 25 (Korea Bizwire) – SK Innovation Co., South Korea’s top oil refiner, on Tuesday said its first-quarter earnings surged from a year earlier, thanks to better-than-expected results from its petrochemical business. Net profit stood at 859 billion won (US$757 million) on a consolidated basis in the first quarter of the year, compared with [...]
SEOUL, Apr. 10 (Korea Bizwire) — South Korea’s SK Innovation said Sunday it aims to develop a powerful electric car battery that would enable vehicles to travel 500 kilometers on a single charge by 2020. The energy and chemical business arm of SK Group said it will cope with current business trouble in China through [...]
SEOUL, Mar. 30 (Korea Bizwire) — South Korea’s SK Innovation Co. halted operation of its battery packing plant in China in January as its business suffered in the face of Beijing’s move to stop a subsidy to electric vehicle makers that use parts from non-Chinese manufacturers, sources said Wednesday. Orders for the joint venture between [...]
SEOUL, March 6 (Korea Bizwire) – SK Innovation Co., the country’s top oil refiner, said Monday that its board of directors has approved a proposal to double the company’s electric vehicle (EV) battery production capacity, in order to meet growing demand. The proposal calls for the construction of two EV battery production lines, which will [...]
SEOUL, Feb. 3 (Korea Bizwire) – SK Innovation Co., South Korea’s top oil refiner, on Friday said its earnings nearly doubled last year from a year earlier, thanks to better-than-expected results from its petrochemical business and expanded refining margin. Net profit stood at 1.72 trillion won (US$1.49 billion) last year, compared with a profit of [...]
SEOUL, Feb. 2 (Korea Bizwire) – SK Innovation Co., the country’s No. 1 oil refiner, said Thursday that its affiliate has decided to take over Dow Chemical Co’s ethylene acrylic acid (EAA) business in a bid to diversify its business portfolio. Its affiliate SK Global Chemical Co. will buy Dow Chemical’s EAA business for US$370 [...]