SK Geonseol Shifts from Construction Focus to Business Diversification

Expanding Eco-Friendly Business Alongside Overseas Market Development

▲ The world's longest suspension bridge, the ?anakkale Bridge in Turkey, being jointly constructed by SK Engineering & Construction and Daelim Industrial

[Asia Economy Reporter Lee Chun-hee] SK Engineering & Construction is shifting away from its construction-focused business area to pursue a portfolio transformation aimed at enhancing corporate value.

On the 25th, SK Engineering & Construction announced that it plans to expand business opportunities in the global market through pioneering new markets while transforming into a new business model (BM) by promoting new ventures.

The company is currently undertaking various projects in Europe and Central Asia, including the world's longest suspension bridge, the ?anakkale Bridge in Turkey, the Almaty Ring Road in Kazakhstan, and the Silvertown Tunnel in the UK. The company also intends to increase its share of eco-friendly and urbanization projects. It aims to expand its business model by developing fuel cells, eco-friendly plants, and new concept residential products, while pursuing productivity improvements through the adoption of smart construction.

To this end, SK Engineering & Construction signed an exclusive domestic supply contract for fuel cell main equipment with U.S. company Bloom Energy in November 2018, and plans to establish a domestic production joint venture (JV) called 'Bloom SK Fuel Cell' in the first half of this year to begin full-scale fuel cell production.

▲ Ahn Jae-hyun, President of SK Engineering & Construction.

In the construction sector, including housing, the company plans to expand its smart construction and OSC (Off-Site Construction) base. OSC is a technology that pre-fabricates building components in external factories rather than on-site and then transports and installs them at the construction site. This method ensures uniform quality, strong durability, and significantly shortens construction time. SK Engineering & Construction plans to develop modular steel structure site offices and apply them across all sites.

The company will also work on improving organizational culture. To support the group's ongoing 'Deep Change' initiative, it aims to expand self-contained 'Squad' organizations and implement organizational changes whenever necessary. Additionally, to practice participatory management, it will establish a Happiness Committee and create a structure where the entire organization shares the decision-making process in management.

This content was produced with the assistance of AI translation services.