SEOUL, July 28 (Korea Bizwire) — SK Innovation Co. said Friday it turned to the red in the second quarter as falling oil prices and thinner margins hurt its profitability. The company logged an operating loss of 106.8 billion won (US$83.2 million) in the April-June period, compared with the 2.32 trillion-won operating profit a year [...]
SEOUL, June 24 (Korea Bizwire) — SK Innovation Co., South Korea’s leading energy company, said Friday it will raise 1.18 trillion won (US$901 million) by issuing new shares, in an effort to secure funds for investment in green energy. The board approved the plan to sell 8.19 million common shares, or 8.7 percent of the [...]
SEOUL, May 4 (Korea Bizwire) — SK Innovation Co. reported Thursday a 77.3 percent on-year drop in the first-quarter operating profit due mainly to falling oil prices, while forecasting improvement in profitability for its loss-making battery unit after the second quarter upon U.S. tax benefits. Operating income came to 374.9 billion won (US$283.2 million) for [...]
SEOUL, March 30 (Korea Bizwire) — SK Innovation Co. said Thursday it is considering buying back its own stocks around the time when its battery-making subsidiary SK On Co. will go public in a bid to boost shareholders’ returns. SK Innovation is looking at the buyback of its treasury stocks worth about 10 percent of [...]
SEOUL, March 23 (Korea Bizwire) — SK Innovation Co., a major South Korean energy company, said Thursday it has invested an additional US$50 million in Amogy Inc., a U.S. developer of an ammonia-based fuel cell platform, expanding the investment in sustainable fuels. SK Innovation took part in the latest $139 million Series B-1 funding round [...]
SEOUL, Feb. 7 (Korea Bizwire) — SK Innovation Co. said Tuesday it plans to spend 7 trillion won (US$5.58 billion) in capital spending this year to shore up its loss-making battery business and aims to achieve a turnaround by next year. The amount earmarked for SK On Co. makes up the substantial portion of the [...]
SEOUL, Jan. 18 (Korea Bizwire) — Amogy Inc., a U.S. clean energy startup backed by South Korea’s SK Innovation Co., has successfully carried out a test-drive of a semitruck running on its ammonia-based fuel cell platform, in a scale-up of demonstrations for the next alternative renewable fuel. Amogy tested a modified 2018 Freightliner Cascadia powered [...]
SEOUL, Dec. 20 (Korea Bizwire) — SK Innovation Co. said Tuesday it will showcase products and technologies featuring its green innovation in secondary batteries, plastic waste recycling and other advanced components at a U.S. tech show next month. The energy unit of South Korea’s SK Group is among the eight SK affiliates that will be [...]
SEOUL, Nov. 3 (Korea Bizwire) – SK Innovation Co. said Thursday its third-quarter net profit sank 65.5 percent from a year earlier on narrowing refinery margins amid a fall in global oil prices. Net income reached 175.2 billion won (US$122.7 million), compared with 507.1 billion won the previous year, the refinery and energy unit of [...]
SEOUL, Oct. 21 (Korea Bizwire) — SK Innovation Co., South Korea’s largest oil refinery, said Thursday it will introduce cutting-edge robots at the Ulsan industrial complex, or Ulsan CLX, the company’s flagship refining factory site in the southeastern port city. The new robots at Ulsan CLX include a four-legged walking robot called SPOT as well [...]