SK Innovation Co Ltd - Company Profile
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Business Description
SK Innovation Co Ltd (SK Innovation) is an integrated energy and petrochemical company. It has a diversified business portfolio with operations in petrochemicals, lubricants, and exploration and production (E&P) businesses. It operates in the Middle East, the US, Europe, and China. SK Innovation classifies its business operations into six segments: Petroleum and Petrochemicals; Lubricants; Battery and LiBS ; E&P; E&S and Others. In FY2024 the company incurred a capital expenditure of KRW10,210,178.9 which was 13.7% of the company’s total revenue and declined 11.2% YoY. Geographically, the company operates through Domestic, Asia, Europe and the US.
R&D Overview
SK Innovation is actively engaged in developing advanced technologies in environmental technology, eco-friendly products, green conversion technology, energy saving, batteries, and energy solutions. The company focuses on leveraging its expertise in catalyst and inorganic materials, organic synthesis, separation composition, and process design capabilities. Through Open Innovation, SK Innovation collaborates with internal and external organizations to accelerate the discovery and development of innovative technologies. Key initiatives include developing recycling technologies for electric vehicle waste batteries, carbon capture and utilization technologies, water treatment and recycling processes, and waste plastic recycling technologies. In the polymer sector, the company is working on packaging solutions, biodegradable polymers, and lightweight materials. In the petroleum sector, SK Innovation is developing technologies for carbon reduction, clean hydrogen utilization, and functional asphalt. The company is also focused on automotive lubricants, e-Fluids, and upcycling waste lubricants. The company conducts research and development through two units Korea Institute of Environmental Science and Technology and R&D Innovation Center. The Korea Institute of Environmental Science and Technology includes the Technology Strategy Office, Platform Technology Research Institute and Energy Solution Lab. While the R&D Innovation Center includes Energy Technology Research Institute, Chemical Product Technology Research Institute, Energy Saving Research Institute, and Analysis Solutions Research Institute. These units are responsible for managing the company's R&D activities, focusing on technology strategy, energy solutions, chemical products, energy saving, and analysis solutions. In FY2024, the company spent KRW480,221 million, which as a percentage of revenue stood at 0.6%, and Grew 15% YoY.
Business Segments
Overview
Includes exploration and development activities of underground seabed to product oil and gas. Actively conducts petroleum development projects around the world through 11 blocks and three LNG projects in eight countries
Performance
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Overview
Engages in the manufacturing and sale of high capacity lithium-ion battery which are used in electric vehicles and energy storage systems, and lithium-ion batteries (LiBS).
Performance
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Overview
Operates an integrated LNG value chain comprising LNG Upstream, LNG Power Generation and LNG Downstream. Also offers district energy solutions.
Performance
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Overview
Manufactures and sells base oils used for vehicle engines and transmissions, along with lubricant products used for industries and vehicles.
Performance
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Overview
Imports oil from oil-producing countries to produce petroleum products. Engages in the wholesale and retail of produce petroleum products through o distributors, gas stations and intermediate sellers. Petrochemical business includes basic chemicals business and petrochemicals business. The basic chemical business produces olefins products including ethylene and propylene using naphtha as main raw material while the petrochemical business produces s chemicals such as synthetic resin and synthetic rubber using basic chemicals such as ethylene.
Performance
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Performance
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Geographical Segments
Performance
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Performance
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Performance
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Performance
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Performance
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