SEOUL, Oct. 12 (Korea Bizwire) — SK Trading International Co., a subsidiary of South Korean refiner SK Innovation Co., said Wednesday it has invested in a U.S. clean fuel company to bolster its green energy drive. The company did not disclose the amount of the investment in Infinium, a California-based startup that engages in the [...]
SEOUL, Oct. 11 (Korea Bizwire) — SK Innovation Co., South Korea’s largest oil refinery, said Tuesday it will invest 5 trillion won (US$3.54 billion) into its flagship Ulsan industrial complex to transform its fossil fuel energy-oriented business to a green energy and material company by 2027. “After building South Korea’s first refinery plant in Ulsan, [...]
SEOUL, Aug. 18 (Korea Bizwire) — SK Innovation Co. has received global certificates for the establishment of a system to measure the impact of greenhouse gases on the entire cycle of production for the first time among South Korean refiners. The company announced on Wednesday that it had received a string of international standard certificates [...]
SEOUL, July 29 (Korea Bizwire) — SK Innovation Co. said Friday its second-quarter profit more than quadrupled from a year earlier, boosted by robust sales of petroleum products amid higher oil prices. Its battery unit, SK On Co., however, suffered an extended loss. Despite this, the refiner maintained its forecast that the loss-making battery unit [...]
SEOUL, July 13 (Korea Bizwire) – South Korean refiner SK Innovation Co. said Wednesday it has invested US$20 million in a U.S. biofuel company, as it accelerates its push for the shift to green energy businesses. The equity investment in Fulcrum BioEnergy Inc., a California-based producer of low-carbon fuels, represents additional backing by SK, South [...]
SEOUL, June 14 (Korea Bizwire) — South Korean battery maker SK Innovation Co. said Tuesday it will invest US$30 million in Amogy Inc., a U.S. developer of ammonia-based, emission-free power solutions, and cooperate in the development of related technologies. To that end, both companies signed a deal on strategic investment and a memorandum of understanding [...]
SEOUL, April 29 (Korea Bizwire) — SK Innovation Co. said Friday it swung to the black in the first quarter from a year earlier, boosted by robust sales of petrochemical products amid higher oil prices. Net income reached 863.3 billion won (US$680.3 million) in the January-March period, a turnaround from a loss of 371.4 billion [...]
SEOUL, April 24 (Korea Bizwire) — SK Innovation Co., South Korea’s leading refiner, said Sunday its energy unit has signed a production sharing contract with Malaysian companies for a local oil block. SK earthon Co. recently signed the deal with Malaysia’s state-run oil company Petroliam Nasional Berhad (Petronas) and Petroleum Sarawak Exploration and Production Sdn., [...]
SEOUL, March 31 (Korea Bizwire) — SK On Co. is not considering an initial public offering (IPO) for at least another two to three years but will build up its competitiveness and enhance corporate value before pushing for a market debut, head of its parent company said Thursday. The potential listing of SK On has [...]
SEOUL, Feb. 7 (Korea Bizwire) — South Korean battery maker SK Innovation Co. said Monday it will pay 210.8 billion won (US$ 175.5 million) in dividends for fiscal 2021 to its shareholders, a shift from a no-dividend policy following the rejection by its board. Shareholders will receive 0.011 treasury stock per each common share they [...]