SK Innovation Co.,Ltd.

Company Profile

■URL

http://eng.skinnovation.com/

■Address

SK Bldg., 26, Jongno, Jongno-gu, Seoul, Korea

Business Overview

-South Korea's leading petrochemical company. In addition to petroleum development, the Company is engaged in the development and manufacturing of batteries. Along with LG Chemical and Samsung SDI, it is one of the world's leading suppliers of automotive EV batteries and its customers include Ford, VW, Hyundai, BAIC and others.

-Businesses are as follows.

Business segment	Major business	Percentage of sales
Petroleum	Refining and sales of petroleum products, trading of crude oil and petroleum products, investment business, etc.	62％
Chemicals	Manufacture and sale of chemical products	14%
Lubricants	Manufacture and sale of lubricants	6%
Batteries (SK On)	Manufacture and sale of lithium-ion batteries	17％
Materials	Manufacturing and sales of materials, separators for lithium-ion batteries, etc.	1％
Oil Exploration	Petroleum development
Others	Business holding companies, investment companies, etc.

-On October 1, 2021, SK Innovation spun off its battery business and officially launched “SK On Co., Ltd.”.

-In 2023, SK On ranked 5th in terms of global EV battery market share. (From SNE Research release)

Shareholders

(As of Dec. 31, 2023)

Main Shareholder	Investment ratio (%)
SK Inc.	34.45
National Pension Service	7.14
Others	58.41‬
Total	100

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Products

Batteries
-Cells
-Modules
-Packs

Materials
-High-energy density electrodes
-Separators

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History

SK Innovation

Jan. 2011	Petroleum and chemical businesses split. Name changed to SK innovation
Sep. 2012	Completed a 200Mwh battery production plant in Seosan Industrial Complex
Oct. 2012	Completed an information and electronic material plant construction (no. 6 and no. 7 lithium-ion separator (LiBS) units / flexible copper clad laminate (FCCL) production line)
Jan. 2014	Launched Beijing BESK Technology, a joint venture with BAIC Group and Beijing Electronics Holding
Jan. 2014	Added an 100Mwh production line in the Seosan battery plant
Jul. 2015	Completed the expansion of the Seosan battery plant of SK innovation (securing battery supply for 30,000 electric vehicles)
Apr. 2016	Decided to add two lithium-ion battery separator (LiBS) assembly units (no. 10 and no. 11) (to be completed in 2018 H1)
Sep. 2016	Completed the expansion of the third production line at the Seosan Plant
Mar. 2017	The decision was made to expand the fifth and sixth 200MWh battery production lines at the Seosan plant
Mar. 2018	Held a groundbreaking ceremony in Komarom, Hungary for the EV battery plant, which will be the first independent production base in Europe
Aug. 2018	Constructed a joint venture plant in Changzhou City with China's largest EV manufacturer
Feb. 2019	Announced that it will establish its second electric vehicle battery plant in Europe in Komarom, Hungary
Mar. 2019	Held a groundbreaking ceremony for a 9.8 GWh/year battery plant in Georgia, USA
Mar. 2019	Announced the construction of two new production lines for lithium-ion battery separators in China and a new production plant in Silesia, Poland
Apr. 2019	Established SK ie technology Co., Ltd. as a subsidiary to manufacture lithium-ion battery separators
Sep. 2019	Signed a joint venture agreement with EVE Energy Co., Ltd. subsidiary Billion Weeks Asia Co.
Dec. 2019	Announced the completion of a plant in Changzhou, China, which will be the first battery cell production base outside of China
Jun. 2020	Announced that it will build a second EV battery plant in Georgia, USA
Oct. 2020	SK ie technology subsidiary announces expansion of separator production line at Silesia plant in Poland
Jun. 2021	Announced the construction of a new battery plant in Ivancsa, Hungary
Mar. 2021	SK ie technology announced that it will build a new plant in Poland
May 2021	Announced the signing of an MOU with Ford to establish BlueOvalSK, a joint venture to produce battery cell arrays
Sep. 2021	Announced the construction of a new plant in Yancheng, China
Sep. 2021	Announced that the battery business will be spun off to form "SK On"