SEOUL, Dec. 26 (Korea Bizwire) – South Korea’s petroleum refinery industry is making large scale investments and diversifying their portfolios amid solid growth this year, market watchers said Monday. Observers said that the move comes as companies want to capitalize on recent gains and better insulate themselves from uncertainties going forward. S-Oil Corp., which is [...]
SEOUL, Nov. 30 (Korea Bizwire) — SK Innovation Co. said Thursday it has decided to invest more than 1 trillion won (US$925 million) to boost electric vehicle battery production capacity to meet growing demand. The South Korean EV battery maker said it is set to break ground on a 840 million-won plant in Hungary in [...]
SEOUL, Oct. 17 (Korea Bizwire) — SK Innovation Co., South Korea’s top oil refiner, said Tuesday that its joint venture with China’s Sinopec will spend 740 billion won (US$655 million) on expanding its output capacity by some 36 percent in order to meet growing demand. SK Global Chemical Co., SK Innovation’s affiliate, and Sinopec invested [...]
SEOUL, Oct. 11 (Korea Bizwire) — South Korea’s top oil refiner SK Innovation Co. said Wednesday that its affiliate has signed a deal to buy another chemical business unit under Dow Chemical Co., in a bid to expand its market presence. Early this year, SK Global Chemical Co. took over Dow Chemical’s ethylene acrylic acid [...]
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 [...]