National pension service opposes SK innovation-SK E&S merger
The NPS, which holds a substantial stake in SK Innovation, has expressed its apprehension over the merger's terms and the strategic direction proposed.
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SK Innovation posts significant Q2 losses amid weak oil prices; SK On continues to struggle
Revenue dropped by 6% to 18.7 trillion won, slightly surpassing the forecasted 18.4 trillion won. Net losses amounted to 120 billion won, better than analysts' predictions of 196.3 billion won in net losses.
Sk On plans mass production of LFP batteries
SK On, the South Korean battery unit of SK Innovation, aims to start mass production of lithium iron phosphate (LFP) batteries by 2026, targeting major automakers seeking cost-effective battery solutions.
Korean oil refiners slash employee bonuses amid plummeting profits
SK Innovation, S-Oil, HD Hyundai Oil bank, and GS Caltex plan to drastically reduce performance-based bonuses for employees this year due to a nearly 50% decline in earnings in 2023.