SK Construction Starts Anew as SK Ecoplant... Full-Scale ESG Management Launch

Strengthening Eco-Friendly and Renewable Energy Projects

[Asia Economy Reporter Onyu Lim] SK Construction is changing its name to SK Ecoplant. It is expected that ESG (Environmental, Social, and Governance) management will be fully activated through strengthening eco-friendly and renewable energy businesses.

SK Construction announced on the 11th that it plans to hold an extraordinary general meeting of shareholders on the 21st to change its name to SK Ecoplant. SK Construction, originally founded as Hyeopwoo Industry in 1962, was acquired by the SunKyung Group in 1997 and operated as SunKyung General Construction. It then changed its name to SunKyung Construction in 1984 and to SK Construction in 1998.

With the name change to SK Ecoplant, SK Construction is expected to actively strengthen its eco-friendly and renewable energy businesses. In his New Year's address this year, SK Construction President Jaehyun Ahn said, "We aim to make this year a year of repositioning as an eco-friendly company leading ESG," adding, "ESG is a demand of the times and a new axis of corporate management to enhance corporate value." He also added, "This year will be a new leap for SK Construction to break the mold of the construction industry and become a national representative eco-friendly company."

SK Construction began this effort last year by acquiring EMC Holdings, which operates 970 water treatment facilities, incinerators, and landfills nationwide, for 1 trillion won. Earlier this year, it also purchased the remaining shares of YSTech, which operates a landfill in Gyeongju, Gyeongbuk. On the organizational side, it established an 'Eco Business Division' to promote the 'Smart Green Industrial Complex' project, creating digital-based eco-friendly spaces.

The company is also aggressively expanding its business areas. Recently, to produce power without emitting carbon dioxide, it built a pure hydrogen solid oxide fuel cell (SOFC) power generation facility in collaboration with Bloom Energy, a U.S. fuel cell manufacturer, and SK Advanced, a company specializing in propylene production and sales.

To strengthen its position as a stable supplier of carbon emission credits, it registered greenhouse gas reduction program projects based on renewable energy in both Vietnam and South Korea.

Meanwhile, this name change aligns with SK Group's management policy, which embraces ESG as a new corporate value. SK Group Chairman Taewon Chey suggested a name change in August last year, stating, "Although it may have been a proud name in the past, it may now be seen as a company that does not align with social values or causes environmental damage," reflecting social changes. It is also known that other affiliates such as SK Telecom and SK Chemicals are considering name changes.

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