SK Inno to Distribute 120 Billion KRW Worth of Company Shares to Employees by End of October

A Total of 462,745 Shares (4.6%) Scheduled for Distribution

[Asia Economy Reporter Hwang Yoon-joo] SK Innovation will distribute 120 billion KRW worth of its own shares to employees.

On the 1st, SK Innovation held a board meeting and resolved to grant treasury shares to its affiliates' members. All business subsidiaries within the SK Innovation group also held board meetings to approve this decision.

SK Innovation explained, "To enhance business value and shareholder value through company-wide ESG (Environmental, Social, and Governance) management and the execution of our financial story, we determined that it is necessary for members to become shareholders themselves and participate voluntarily, thus deciding to grant treasury shares to our members."

In particular, SK Innovation emphasized that, in line with company-wide changes such as the launch of the battery business (SK on) and the E&P business (SK earthon) as independent corporations starting October 1, it decided to grant treasury shares so that shareholders, management, and members can share the same purpose of maximizing shareholder value.

Accordingly, SK Innovation will grant treasury shares held by the company to members excluding executives within the group at the end of October. The total number of shares to be granted is 462,745, which corresponds to 4.6% of the 10,129,567 treasury shares held (0.5% of the total issued shares).

The stock grant of treasury shares to members is a compensation method that significantly contributes to increasing shareholder value, and its effectiveness has been verified and implemented not only abroad but also by some domestic companies. SK Innovation expects this to align the goals of shareholders and members, thereby contributing to enhancing shareholder value.

Lim Soo-gil, Head of the Value Creation Center, explained, "The company and the board decided this because they judged that it is necessary for members to become shareholders themselves and participate voluntarily to achieve the goal of enhancing shareholder value through the completion of the financial story."

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