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[SK Innovation’s 50th anniversary] Taking 2nd quantum jump to become global total energy provider with technology innovation Contents
title [SK Innovation’s 50th anniversary] Taking 2nd quantum jump to become global total energy provider with technology innovation
attachment date 2012-10-15 count 18801
“Entering whole new 50 years ahead of us, it’s now time for us to become a company that shares dreams and happiness with the world” said Chairman Tae-Won Chey during his message at the ceremony.

-SK Innovation aims for a great leap forward as a global technology-based energy company with sales of KRW290 trillion and operating profits of KRW14 trillion by year 2020.
- From the country’s leading energy company to a global green company that leads the future

SK Innovation, Korea’s No. 1 energy company, is now celebrating its 50th anniversary.
SK Innovation (President Ja-Young Koo, www.SKinnovation.com) held a commemorative ceremony in Daejeon Global Technology on the 12th to celebrate its 50th anniversary with around 2,700 executives and employees including Chairman Tae-Won and President Koo Ja- Ja-Young Koo.
Chairman Tae-Won Chey delivered a congratulatory message at the ceremony: “I would like to express my sincere gratitude to members and seniors of our SK family who have been fully committed to accomplishing this almost miraculous growth of sales of KRW80 trillion. We are now moving toward sales of KRW290 trillion and operating profits of KRW14 trillion by 2020 based on our advanced technologies for the future. SK Innovation will become a company that shares dreams and happiness with the world.” Then, with other managers and employees, he sealed a time capture, which signified the wishes and hope shared by SK family members as well as the company’s Vision 2020.
At the ceremony, the participants personally assembled “Happiness Bicycles” as a token of appreciation and to give back the affection that customers and local communities have given to SK Innovation. A total of 500 units of “Happiness Bicycles” were assembled, reflecting Chairman Tae-Won Chey’ vision -- to become a company that can create 50 times greater dreams and happiness compared to the past 50 years, and eventually share them with our society. The special bicycles will be sent to children who take care of their families without parents.
Throughout its 50 years of history, SK Innovation has been a part of development of the local economy in the country. In 1962 when the country worked hard toward economic independence and modernization, it started as the first refinery in Korea and laid the foundation for development of the local economy with its commitments to secure energy supply.
In 1980, SK took over 50% of shares and managerial rights of Korea Oil Company (SunKyung Co. Ltd. at that time) to follow the government policy targeting privatization of public companies. As it became one of SK Group affiliates, SK Innovation expanded investments from the existing refineries into chemical business and petroleum exploration in order to establish a lineup of businesses as a total energy company as envisioned by late Chairman Jong-Hyeon Chey. Now, SK Innovation is the fourth largest energy company in the Asia-Pacific region, which has refinery capacity of 1,115,000 barrels equivalent to 40% of refined crude oil refined in the country on a daily basis.

Since Chairman Tae-Won Chey was inaugurated in 1998, the company grew rapidly through export drive strategies and aggressive investments in overseas energy resource projects.
The value of export shipments was only KRW3 trillion back in 1997, but increased about 16 times to KRW47 trillion in 2011, accounting for 70% of total sales. As a leading exporter, it ranked the second place following Samsung Electronics in the country’s export shipments in the first half of 2012, topping KRW150 trillion in exports for the past 5 years.
While exports slowed down due to the global economic recession, the value of petroleum exports continued to increase, with petroleum products ranking No. 1 export item in terms of accumulated export value. In addition, it has also contributed to raising the standing of Korea through technology exports. Starting with Formosa of Taiwan in 1998 and through Kuwait, Iran, Ghana, and Vietnam, SK Innovation has been exporting refinery operations and technologies to other countries.
Chairman Chey followed late Chairman Jong-Hyeon Chey’s will to lead energy exploration for this non oil-producing country which lacks in energy resources. Since 2004, he has led the company’s overseas energy exploration projects with numerous rounds of airplane rides, successfully building a global network of mining areas including participation in 6 new blocks in Vietnam (2007) and Colombia (2008). In 2010, the groundbreaking of Peru LNG Plant completed the entire value chain in Peru through mining areas to exports. In 2012, through sales of its Brazilian mining lot, it produced one of the great achievements in history of resource development in the country, setting a landmark in the country’s petroleum exploration efforts.
Now, SK Innovation operates 26 blocks in 16 nations to produce 546 million barrels of crude oil which amounts to 8 months of crude oil consumed in the country. In 2011, it posted sales of KRW1.359 trillion and operating profits of KRW4,941 billion, which is up more than two-folds compared to operating profits of KRW2,151 billion in 2006.
SK Innovation is also fast moving toward future growth engines with its push into new green growth industries, including batteries for electric vehicles, digital and electric components and GreenPol. EV battery business is a good example where it sees tangible results from its investments.
Also, the company was selected to supply batteries for hybrid commercial vehicles manufactured at Daimler Group affiliate Mitsubishi Fuso as well as Hyundai’s “BlueOn” and Kia Motor’s “Ray.” In February 2012, it was also named by Daimler Group as the lithium-ion battery supplier for the first electric supercar of Mercedes AMG. After building its first battery mass production facility with 100MWh capacity in Daejeon Global Technology, the company also completed construction of its second production facility in Seosan Industrial Complex in September 2012.
“SK Innovation has provided energy to Korea and other parts of the world for the last half century,” said an official at SK Innovation. “And we will lead efforts to creating bright future for the country as an energy powerhouse by aggressively exploring future energy sources and oil resources.”

하단 텍스트 참조

[[Chairman Chey participates in time capsule event with employees]]

하단 텍스트 참조

[[Chairman Chey shakes hands with members of SK Innovation at the ceremony celebrating its 50th anniversary]]

하단 텍스트 참조

[[Chairman Chey introduces its battery technology to board of directors at Deaduck Global Technology exhibition room]]

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