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 [...]
SEOUL, Nov. 30 (Korea Bizwire) – South Korea’s SK Group said Wednesday that it has agreed with a Chinese chemicals maker to scrap their plan to establish a joint venture to produce butanediol, a key material used to make synthetic fibers. In 2013, SK Global Chemical and Sinopec announced a plan to invest some 680 [...]
SEOUL, Nov. 15 (Korea Bizwire) – SK Innovation, an energy affiliate of SK Group, said Monday that it will establish a second EV battery plant at its battery complex in Seosan, South Chungcheong Province. The new factory will sit on 40,000 square meters of land, which is similar to its current plant, but with a [...]
SEOUL, May 23 (Korea Bizwire) – South Korea is increasingly bringing in African crude oil, as its prices have become more attractive due to competition with shale gas, refiners here said Sunday. Seoul imported 9.6 million barrels of African crude oil and “condensate,” a type of ultra-light crude, in the first quarter of this year. [...]
SEOUL, March 17 (Korea Bizwire) – SK Innovation Co., the country’s top oil refiner, said Thursday that it plans to expand its electric vehicle (EV) battery production capacity to meet growing demand. According to the company, the annual production at its first EV facility in Seosan, some 150 kilometers south of Seoul, will be increased to [...]
SEOUL, Feb. 17 (Korea Bizwire) – SK Innovation Co., South Korea’s top refiner, said Wednesday that it has finalized a deal to supply its electric vehicle (EV) battery to Benz’s EV cars starting from 2017, the latest in a series of its EV battery supply deals. SK Innovation, a latecomer to the EV battery business, [...]
SEOUL, Jan. 3 (Korea Bizwire) – South Korea’s top refiner SK Innovation Co. plans to speed up its overseas expansion this year as it seeks to develop new growth engines while also boosting its global presence, company officials said Sunday. The move apparently comes as more than half of the company’s overall sales already are [...]