SK Construction Undertakes Organizational Restructuring for Eco-Friendly and New Energy Businesses

[Asia Economy Reporter Chunhee Lee] SK Engineering & Construction has carried out an organizational restructuring to secure new business engines that create both Economic Value (EV) and Social Value (SV).

On the 20th, SK Engineering & Construction announced that it established a new Eco-friendly Business Division and reorganized the Energy Technology Division into the New Energy Business Division. Through this restructuring, SK Engineering & Construction changed its organization from 5 business divisions, 2 centers, 46 groups, 19 departments, and 92 teams to 6 business divisions, 2 centers, 48 groups, 18 departments, and 88 teams.

The newly established Eco-friendly Business Division consists of organizations such as the Smart Green Industrial Complex Business Group and the Recycling Business Group. President Ahn Jaehyun will directly lead the division as the head. The Smart Green Industrial Complex Business, which transforms industrial complexes into digital-based smart and eco-friendly manufacturing spaces, was recently included in the government's 10 major Green New Deal initiatives. Through the Recycling Business, SK Engineering & Construction plans to promote projects that convert waste discarded from daily life to industrial sites into eco-friendly, high value-added products from the perspective of the Circular Economy.

The newly reorganized New Energy Business Division will expand to include the solid oxide fuel cell (SOFC) business, a stable eco-friendly distributed power supply source, as well as renewable energy businesses such as solar and wind power, LNG power generation, and performance improvement and eco-friendliness of aging refining and power generation facilities.

Through this restructuring, SK Engineering & Construction aims to strengthen its market position by establishing a ‘New EPC model’ centered on smart construction in its existing strong business areas such as Oil & Gas, Infrastructure, and Architecture & Housing.

The Oil & Gas Business Division is seeking additional business opportunities in Belgium, Turkey, Saudi Arabia, and other locations based on its successful experience with the Ulsan PDH project. SK Engineering & Construction plans to focus more on developing and investing in eco-friendly technologies it owns and new technologies based on a new business model that carries out the entire project process.

In the Infrastructure Business Division, SK Engineering & Construction plans to proactively lead profitable public-private partnership (PPP) projects such as the ?anakkale Suspension Bridge in Turkey and the Silvertown Tunnel in the UK. By partnering with advanced financial institutions, it plans to expand its market not only domestically but also to Europe, Australia, and North America, growing into a global PPP developer and asset management company.

The Architecture & Housing Business Division will solidify its position as a leading company in knowledge industry centers while exploring and commercializing various housing-type solutions to address housing issues arising from urbanization.

President Ahn Jaehyun of SK Engineering & Construction stated, "We will continuously communicate with customers and the market to provide optimal solutions through technology development, securing new future growth engines and creating happiness together." He added, "Building on this organizational restructuring, we plan to continuously discover new business models based on social value."

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