Choi Tae-won, "SK Finds Solutions at Ulsan CLX, Where Top Carbon Talent Gathers"

60th Anniversary Visit to Ulsan CLX... 2 Hours of Communication with Over 1,100 Members
Choi Tae-won: "Ulsan CLX Has Sufficient Decarbonized Energy Capabilities in Electricity, Hydrogen, etc."

Chairman Chey Tae-won of SK Group visited the SK Innovation Ulsan CLX production site on the 18th to encourage the members. (Photo by SK Inno)

[Asia Economy Reporter Moon Chaeseok]

"Under ESG (Environmental, Social, and Governance) management, SK is considering a new business map that integrates energy and environment, and we believe that the talents at Ulsan CLX, who know carbon best, will create solutions."

SK Chairman Chey Tae-won visited the site on the 18th to encourage employees on the occasion of the 60th anniversary of the opening of SK Innovation's Ulsan Complex (Ulsan CLX), the core hub of the group's energy business. This is Chairman Chey's first visit to Ulsan CLX in three years since 2019. SK Innovation Vice Chairman Kim Jun, SK Geocentric President Na Kyung-soo, SK Lubricants President Cha Kyu-tak, and SK Innovation Ulsan CLX General Manager Yoo Jae-young also accompanied him.

According to SK Innovation on the 20th, Ulsan CLX is a facility that processes 840,000 barrels of crude oil per day and is SK Innovation's base, which started business in 1962 as Korea's first refinery. Chairman Chey said, "Ulsan CLX has sufficient capabilities to produce decarbonized energy such as electricity, hydrogen, and energy storage systems (ESS)," and emphasized, "Many opportunities will be created in the future."

At the site, Chairman Chey held an on- and offline 'Happiness Talk' for about two hours with approximately 1,100 members. They played a 'balance game,' a method of choosing between two options to understand each other's preferences, and engaged in various Q&A sessions. The main topics were SK Innovation's ESG management, financial story, and net zero (carbon neutrality). When asked about his most memorable experience, Chairman Chey replied, "I was appointed chairman in 1998 when the group was in crisis due to the aftermath of the International Monetary Fund (IMF) crisis, and it took a full 10 years to overcome all the crises." He recalled, "In 2008, when I solved the given task after 10 years, I held the 10th anniversary ceremony of my inauguration as chairman here at Ulsan CLX. That year was a turning point in my life when I started talking about happiness along with global expansion, ESG, financial story, and green initiatives."

Chairman Chey Tae-won of SK Group having a "Happiness Talk" with members at the SK Innovation Ulsan CLX SUPEX Hall on the 18th. They shared opinions on SK Innovation's ESG (Environmental, Social, and Governance) management, financial story, and net zero (carbon neutrality). (Photo by SK Inno)

There was also active discussion on how to coexist carbon businesses such as refining and petrochemicals with the financial story. Regarding this, Chairman Chey said, "There were concerns and worries about the carbon business amid changes in the management environment such as the world's energy mix and decarbonization policies," adding, "Under ESG management, SK is considering a new business map that integrates energy and environment, and we believe that the talents at Ulsan CLX, who know carbon best, will create solutions." He continued, "For the past 60 years, Ulsan CLX has played the role of the heart supplying energy throughout South Korea," and said, "Energy will shift from oil-centered to decarbonized, that is, electric forms, and Ulsan CLX, which has well established an oil-centered energy network, will continue to play the role of Korea's energy heart."

Chairman Chey emphasized that SK Innovation must innovate to create bigger businesses as its mission states. SK Innovation Ulsan CLX has set a financial story to reduce carbon emissions by 50% by 2030 and achieve net zero by 2050, promoting greening of both production products and production processes. Chairman Chey said, "Ulsan CLX has sufficient capabilities to produce decarbonized energy such as electricity, hydrogen, and ESS, and many opportunities will be created in the future."

Chairman Chey also revealed a surprise gift for Ulsan CLX members at the site: the construction of a new Happiness Community Center. He said, "What fills this space will be your creative ideas," and added, "In that context, I hope it will be a space that maximizes happiness not only for members but also for local stakeholders."

After the Happiness Talk, Chairman Chey visited the site including the Vacuum Residue Desulfurization System (VRDS) completed in early 2020, the advanced Heavy Oil Upgrading (HOU) facility, Lubricant Base Oil (LBO) production process, Aromatics Plant (NRC), and Ulsan CLX Safety Center to encourage members dedicated to stable operation of the processes.

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