When did SK Energy start producing oil in Korea?
SK energy began in 1962 as Korea Oil Corporation, the first oil refinery in the country. The company has since contributed to national economic development by producing, exporting, and distributing petroleum products.
When did SK start producing polyester in Korea?
In 1958, the company manufactured Korea’s first polyester fiber on company grounds. It established Sunkyong Fibers Ltd. in July 1969, and started to produce original yarn. In 1973, SK then established Sunkyong Oil, beginning a vertical integration strategy to manage production, “From Petroleum to Fibers”.
What are the subsidiaries of the SK Corporation?
Under the re-organization, SK’s main entity, SK Corporation, was split into an investment company, now SK Holdings and an operating company, now SK Energy. The subsidiary companies that now operate under the central SK Holdings umbrella include: SK Energy, SK Telecom, SK Networks, SKC, SK E&S, SK Shipping and K Power.
How did SKC spin off its chemical business?
SKC and Petrochemical Industries Company (PIC) have signed agreements for the sale of 49% stake in SKC’s chemical business to PIC, including propylene oxide (PO) and propylene glycol (PG). SKC’s board of directors have approved to vertically spin-off its chemical business and sell 49% interest in the new entity to form a joint venture with PIC.
How many barrels of oil does SK Energy produce per day?
SK energy’s Ulsan Complex can process up to 840,000 barrels of crude oil per day, supplying petroleum products to both domestic and international markets. The company is continuously improving the speed and flexibility of company-wide value chains in order to preemptively respond to the increasing price volatility of oil and oil products.
Which is the best oil company in Korea?
SK energy explores new markets to meet customers in their daily lives, any time anywhere. As the top oil company in Korea, SK energy has been producing various petroleum products at the Ulsan Complex, which can refine 840,000 barrels of crude oil per day, and selling them in both domestic and overseas markets. Founded as…
How is SK Energy improving its profit structure?
In order to improve its profit structure, SK energy will continue in its corporate-wide efforts to realize its process operation with speed and flexibility and to strengthen market leadership. At the same time, SK energy explores differentiated growth engines based on global partnerships and will drastically renovate its business models.