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 four segments: Energy and Chemistry Business, Batteries and Materials Business, E&S Business, and Other. In FY2025 the company incurred a capital expenditure of KRW5,650,564.4 which was 7% of the company’s total revenue and declined 44.7% YoY. Geographically, the company operates through Domestic, Asia, Europe, Americas and Others.
R&D Overview
SK Innovation is actively engaged in research and development across various sectors, including energy saving, batteries, energy solutions, energy/chemicals, and environmental technology. The company focuses on developing world-class technologies by leveraging its expertise in catalyst and inorganic materials, organic synthesis, and chemistry-based solutions. Key initiatives include the development of refrigerants and refrigeration oils for electric vehicles, thermal management technologies for batteries and data centers, and innovative reaction and purification technologies in refining and petroleum/lubricant products. In the environmental sector, SK Innovation is working on battery metal recovery and high-value-added technologies to address waste battery challenges. The company also conducts Life Cycle Assessments to evaluate the environmental impact of its products and is enhancing water treatment technologies to minimize environmental impact. The R&D units of SK Innovation include the Environmental Science and Technology Institute, Technology Strategy Office, Platform Technology Research Institute, Energy Solution R&D Institute, R&D Innovation Center, Energy/Chemical Technology Research Institute, Energy Saving Research Institute, and Analysis Solution Research Institute. The Technology Strategy Office is responsible for managing the company's R&D activities through Open Innovation, fostering cooperative relationships among internal and external organizations to accelerate technology discovery and development. In FY2025, the company spent KRW368,076 million, which as a percentage of revenue stood at 0.5%, and declined 23.4% YoY.
Business Segments
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
Engages in the procurement of crude oil for the production of petroleum products through global supply chains across the Middle East. It then refines the crude oil into gasoline, diesel, kerosene, aviation fuel, and naphtha, as well as raw materials for chemical products. These products are sold through major clients, agencies, direct sales, and export channels, including SK On Trading International, SK GeoCentric Co Ltd, and SK On Co Ltd. Its Chemicals and lubricants business consists of basic materials business, capable of producing olefin-based products such as ethylene and propylene, and aromatics; Chemical Materials business which produces high-value-added chemical products, such as high-performance packaging materials and automotive materials, using basic oil fractions as raw materials. Moreover, the lubricants business produces base oils primarily used in the manufacturing of engine and transmission lubricants for the automotive sector.
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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