SK Innovation Co.,Ltd.
Company Profile
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, and 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. | 67% |
| 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 | 10% |
| Materials | Manufacturing and sales of materials, separators for lithium-ion batteries, etc. | 3％ |
| 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.”.
-The Company is the world's second largest producer of batteries for electric vehicles (EVs). (From SNE Research release)
Shareholders
| (Dec. 31, 2022) |
| Main Shareholder | Investment ratio (%) |
| SK Inc. | 33.77 |
| National Pension Service | 8.66 |
| Others | 57.57 |
| Total | 100 |
Products
Batteries
-Cells
-Modules
-Packs
Material
-High-energy density electrodes
-Separators
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" |
