SK Innovation has confirmed the division of its battery and oil development business. It plans to secure a flexible and rapid management system of the battery business and strengthen its global capabilities.
SK Innovation announced at an extraordinary shareholders'meeting held at Supex Hall of SK Seorin Building in Jongno-gu, Seoul on the 16th that the approval of the split plan for the battery business and the oil development project (E&P) was passed with 80.2% approval rate.
The split method is a simple and physical split method in which SK Innovation owns the total number of shares issued by the new corporation, and SK Innovation will have a 100% stake in the new corporation.
According to the decision of the shareholders'meeting, 'SK Battery (tentative name)' and 'SK E&P (tentative name)' will be officially launched on the 1st of next month.
The battery business will carry out medium to large batteries, electric vehicle battery service, and energy storage device (ESS) business for electric vehicles, while the oil development project will carry out petroleum development production and exploration and carbon capture storage (CCS) projects, respectively.
Reporter Lee Ji-sun stockmk2020@gmail.com
