SEOUL, Dec. 16 (Korea Bizwire) – The U.S. Department of Energy (DOE) has finalized a 14 trillion won low-interest loan for BlueOval SK, a joint venture between South Korea’s SK On and Ford Motor Company, to bolster domestic electric vehicle (EV) battery production. The approval marks the largest EV-related loan under the Biden administration’s Advanced Technology [...]
SEOUL, Jul. 3 (Korea Bizwire) – SK On, the battery manufacturing arm of South Korea’s SK Group, has unveiled a comprehensive restructuring plan aimed at steering the company towards profitability and solidifying its position in the global electric vehicle (EV) battery market. The move comes as SK Group reaffirms its commitment to the battery business as [...]
SEOUL, Jul. 1 (Korea Bizwire) — SK On Co., the loss-making battery unit of South Korea’s chip-to-construction conglomerate SK Group, said Monday it will freeze the annual pay of all executive-level officials until it turns to profit, as part of its cost-cutting measures. Under the measures, C-suite executives, including the chief executive officer, let the [...]
SEOUL, Jun. 26 (Korea Bizwire) — SK On Co., the battery unit of chip-to-construction conglomerate SK Group, said Wednesday it has signed an initial pact with ExxonMobil Corp. for a stable supply of lithium for its EV battery manufacturing. SK On signed a memorandum of understanding (MOU) with ExxonMobil to secure U.S.-produced lithium on the [...]
SEOUL, Apr. 16 (Korea Bizwire) — Last year, all three major South Korean battery makers – LG Energy Solution, Samsung SDI, and SK On – secured positions within the top five in the global electric vehicle battery market, according to a recent report. According to SNE Research, an energy market research firm, the total electric vehicle [...]
SEOUL, Mar. 25 (Korea Bizwire) — L&F Co., a South Korean cathode material company, said Monday it has signed a 13.19 trillion-won (US$9.85 billion) deal to supply high-nickel cathodes to SK On Co., the battery unit of chip-to-construction conglomerate SK Group. L&F will supply 300,000 tons of high-nickel cathode materials for SK On’s car batteries [...]
SEOUL, Feb. 26 (Korea Bizwire) – In an era where technological advancements are rapidly reshaping industries, companies are intensifying their efforts to secure top talent, particularly in artificial intelligence and other cutting-edge fields. The recruitment of experienced professionals has become more dynamic, with firms expanding their hiring scope and, in some cases, forgoing traditional recruitment cycles [...]
SEOUL, Feb. 22 (Korea Bizwire) –SK On, a relative newcomer in the battery industry, has announced a novel approach to employee compensation by offering virtual stocks to employees equivalent to 30% of their annual salaries. This move comes in the wake of the company facing a challenging financial year with zero performance bonuses allocated, stirring [...]
SEOUL, Jan. 17 (Korea Bizwire) — SK On, the battery unit of chip-to-construction conglomerate SK Group, said Wednesday it has partnered with U.S. battery startup Solid Power to jointly develop solid-state batteries. SK On signed an agreement with Solid Power for solid-state battery technology transfers from the U.S. company during this year’s Consumer Electronics Show [...]
SEOUL, Nov. 15 (Korea Bizwire) – South Korean battery maker SK On Co. said Wednesday it has partnered with German battery materials firm BASF SE to explore possible business opportunities in the global lithium-ion battery markets. SK On and BASF reached an agreement to collaborate in exploring business opportunities in cathode active materials (CAM) production, [...]