SEOUL, Jun. 20 (Korea Bizwire) — SK Innovation Co., South Korea’s leading refiner, said Thursday various plans, including a merger, have been under consideration to bolster its competitiveness, but no decision has been made. A company spokesperson at SK Innovation made the remarks after the Chosun Ilbo newspaper reported, citing industry sources, that the company [...]
SEOUL, Oct. 26 (Korea Bizwire) — SK Innovation Co., South Korea’s leading energy company, said Thursday it has signed a tentative agreement with the government of Fiji for a forest restoration project in the South Pacific island nation. SK Innovation forged the memorandum of understanding (MOU) with the government Wednesday in the Fijian capital of [...]
SEOUL, Oct. 24 (Korea Bizwire) – SK Innovation, SK IE Technology (SKIET), and Lotte Chemical have joined forces to make significant strides in the carbon capture market. On Monday, these three companies announced the signing of a Memorandum of Understanding (MOU) to foster technological and business collaboration, thereby fortifying their competitiveness in the field of carbon [...]
SEOUL, Sept. 28 (Korea Bizwire) – SK Innovation announced on Wednesday that the Great Music Festival (GMF) for individuals with developmental disabilities, the largest of its kind in South Korea, was held at the New Millennial Hall of Konkuk University on September 26. This year marks the seventh anniversary of the GMF, hosted by the Heart to [...]
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 [...]