SK Construction Explores New Business Opportunities Through Collaboration with Hilti, the World's Largest Construction Materials Company

SK Construction announced that it has signed a "Mutual Cooperation Agreement on Joint Technology Development and Business Model Discovery" with Hilti, a company specializing in construction materials and tool manufacturing. Yoon Hyuk-no, Head of SK Construction's High-Tech Business Division, and Reinhardt Schindler, Vice President of Hilti, held an online video signing ceremony and posed for a commemorative photo holding the agreement. (Provided by SK Construction)

[Asia Economy Reporter Lee Chun-hee] SK Engineering & Construction is embarking on discovering new business models through collaboration with the world's largest construction materials company.

SK Engineering & Construction announced on the 27th that it signed a "Mutual Cooperation Agreement on Joint Technology Development and Business Model Discovery" with Hilti, the world's largest construction materials and tool manufacturing specialist, on the 24th.

The signing ceremony was conducted via a non-face-to-face signing method due to the spread of the novel coronavirus disease (COVID-19). Yoon Hyuk-no, Head of SK Engineering & Construction's High-Tech Business Division, and Reinhard Schindler, Vice President of Hilti, signed the agreement through a video conferencing system.

The Hilti Group is a global construction materials and tool manufacturing specialist that recorded approximately KRW 7.56 trillion in sales last year. Established in 1941, it currently has about 30,000 employees and is headquartered in the Principality of Liechtenstein. It provides advanced technology and structural improvement services in the construction, heavy industry, and plant sectors. Its main products include mechanical and chemical anchors, power tools, laser measuring devices, fire protection materials, and channel systems.

Through this agreement, SK Engineering & Construction will become the first domestic construction company to collaborate with Hilti on developing module technology based on smart construction technology BIM (Building Information Modeling) and discovering new business models.

SK Engineering & Construction and Hilti are developing construction materials and modular construction methods to be used in the fabrication of modules for advanced industrial facilities such as semiconductor plants, electric vehicle battery plants, and data centers. SK Engineering & Construction plans to apply the developed materials and methods to domestic and overseas sites within this year. Through this, they aim to enhance the performance and quality of materials while reducing costs by 30% and construction time by 40%.

Both companies also plan to continuously promote cooperation for developing new business models. They intend to maintain close consultations from a long-term perspective regarding the establishment of a joint venture (JV) for the production and supply of construction materials.

Yoon Hyuk-no, Head of SK Engineering & Construction's High-Tech Business Division, stated, "Through module technology development, we will break away from traditional construction methods and maximize the OSC (Off-Site Construction) production method," adding, "We plan to further strengthen our strategic partnership with Hilti and continuously discover new business opportunities in the global market."

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