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GT NEWS | Center of Technology infomation for brighter future.

SK Group Sets Sale to Green Ocean with Its Eco-friendly Technologies Contents
title SK Group Sets Sale to Green Ocean with Its Eco-friendly Technologies
attachment date 2009-02-23 count 12799
SK Group Sets Sale to Green Ocean with Its Eco-friendly Technologies
2009/02/23
- Selects seven green growth priorities including zero emission coal technology
- Invests KRW1 trillion through 2010, to expand investments in R&D and commercial adoption over time
- Explores the global market with its world-best green technologies as well as contributes to the local economy


Seeing its future in green technologies, SK Group is now set to explore the “green ocean” with the company’s world-best green technologies.

The South Korea-based leading energy and technology group selected its seven growth priorities in the green technology R&D and business area with an aim to grow into one of the top global players by 2015, leading the world’s move toward “low carbon and green growth.”

The company has focused on a range of technology projects including zero emission coal energy, marine biofuel, solar panels, CO2 recycling, green cars and hydrogen fuel cells. It recently adds u-Eco city project to its top priority list.

The u-Eco city continues to attract attention as a promising business, incorporating various eco-friendly energy and information technologies retained by individual subsidiaries of the group into a new level of growth together.

“SK will continue to challenge the global market with a new business model in which it accelerates development of green technologies while incorporating its existing energy-saving technologies and information technologies,” said Group Chairman Choi Tae-Won recently.

SK Group plans to invest one trillion won in R&D and the seven top priority commercial adoption projects by 2010 to grow them into new future growth engines.

In addition, it will expand investments gradually by 2015 to become one of top global players in low carbon and green growth.

Especially, SK is now toiling on green coal technology, a new processing technology expected to cut carbon emissions and pollutants drastically. Using this technology, SK will be able to produce fuel, electricity and petrochemical products from low cost coals.

“The reserve of coal is three times larger than that of oil, and it costs much less,” said SK Group. “When green goal technology is developed, coal will become an economic alternative to oil.”

SK Energy is now focusing on developing a new technology to extract pipeline transportable biobutanol with higher energy density from inedible plants including seaweeds.

It has already developed a base technology which produces biobutanol using a catalyst for the first time in the world, ensuring production with high yields at lower costs.
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SK Energy has secured “CO2 energy” technology which produces eco-friendly plastics using CO2, one of greenhouse gases, and is now working on a commercial technology in league with SK Chemicals and SKC.

Furthermore, the company has developed a green car technology (a hybrid automotive battery) which delivers the world’s best performance, and is accelerating efforts to achieve commercial adoption by 2011. It hopes that this technology would grow into a lucrative multi-billion dollar business.

In solar panel business projected to grow into a 55 trillion won market by 2010, SKC is competing in the solar panel film market, and SK Energy is also toiling on a source technology used for thin film solar panels.

Meanwhile, SKC has recently developed both fluorine film and EVA sheets, two core components used for solar panels, and started mass production at Suwon Plant. The company now plans to increase its share of the global film market up to 15 percent, achieving 190 billion won sales by 2012.

In the hydrogen energy sector, SK Energy successfully conducted the government-sponsored “Hydrogen Station Technology Development Project,” and became the country’s first company to develop a high-efficient automated hydrogen manufacturing facility. With this technology, it built a hydrogen station in 2007. Currently, the company is conducting research on commercial adoption of the technology including the use for fuel cell-powered vehicles.

The Group’s ambitious u-Eco city incorporates telecommunications technologies of SK Telecom and SK C&C; green construction technologies of SK E&C; and energy conservation and sewage process technologies of SK Energy to build a “sustainable urban city.”

The u-Eco city combines the u-City project that SK Telecom has been working on at home and abroad with green technologies, and SK Group plans to foster it as the group’s new growth engine. The seven top priorities including the u-Eco city are overlapped with the broader government initiative -- announced in January 2010, it addresses 17 new growth engines across three sectors.

Besides the seven priorities, SK Group is developing a wide range of green technologies for commercial adoption, including land clearance (SK Energy & SK E&C), biodiesel (SK Chemicals), wind power (SK Chemicals, SK Networks & SKE&S), waste recycle (SK Energy) and solar power (SK E&S & SK D&D).

“SK remains committed to exploring the green ocean by developing and commercializing its world best green technologies,” said Kwon Oh-Young, chief brand officer of SK Group. “With these commitments, we expect to contribute to the local economic growth significantly, making large investments and creating more jobs.”

prev SK Energy to Develop CO2 Recycling Eco-friendly Component 2008-10-23
next SK Energy’s New CEO Koo Ja-Young Takes Office 2009-03-16

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