SKC Sells All Shares of SK Bioland... Secures 120.5 Billion KRW for Growth Funding (Update)
[Asia Economy Reporter Park So-yeon] SKC announced on the 18th that it will sell its entire 27.9% stake in its subsidiary SK Bioland to Hyundai HCN.
The total transaction amount is 120.5 billion KRW, and the related procedures are planned to be completed by mid-October.
An SKC official explained, "We secured investment funds by divesting stakes in business areas that are not highly connected to the direction of BM (business model) innovation."
With the funds secured this time, the company plans to fully launch the second phase of business model innovation focused on future growth engines such as mobility and semiconductors.
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Earlier, SKC completed the first phase of innovation centered on the mobility materials business in the first half of this year.
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