Lee Sung-jun, Head of SK Innovation Environmental Science and Technology Institute, "Developing New Waste Lubricant Technology... Preparing to Establish US R&D Hub"

Company News Channel Skino News Interview
"This Year Is the First Year for SK to Solve Carbon Issues"

Seongjun Lee, Head of Environmental Science and Technology Institute at SK Innovation. (Photo by SK Inno)

[Asia Economy Reporter Moon Chaeseok] "On the occasion of SK Innovation's 60th anniversary, we will prepare for the next 60 years with a mindset of 'second founding' by adding innovation. We will solve carbon issues with accumulated top-level technology."

Lee Sung-jun, head of SK Innovation Environmental Science and Technology Institute, emphasized in an interview with the in-house news channel SKIno News on the 29th that this year will be the first year for solving carbon problems. He stated that they will maximize research and development (R&D) capabilities to secure new technologies. Lee said, "To strengthen SK Inno's R&D capabilities, we are promoting the establishment of a global R&D center alongside the 'SK Green Techno Campus' (tentative name). We plan to establish global R&D hubs centered around San Francisco and Silicon Valley in the United States."

The new eco-friendly technology development envisioned by SK Inno includes ▲waste lubricant oil recycling ▲development of biofuels, bio naphtha, and bioplastics ▲hydrogen energy technology. Since SK Inno has secured outstanding technology in the waste battery recycling (BMR) sector, it plans to pioneer 'carbon-neutral business opportunities' and expand its business areas. BMR is a technology that extracts metals from waste batteries to simultaneously solve environmental problems and battery raw material supply issues, and SK Inno possesses world-class proprietary technology in this field.

The institute plans to enhance the completeness of ▲waste plastic recycling ▲BMR ▲carbon capture and storage (CCS) technologies to accelerate the eco-friendly transition of SK Inno's affiliated businesses. Last year, the institute made significant progress in waste plastic recycling technology by being the first in Korea to introduce pyrolysis oil derived from waste plastics into actual refining and petrochemical processes. They plan to complete a pyrolysis oil pilot plant in the first half of this year and check and advance all related technologies to operate a large-scale pyrolysis plant by 2025. For the BMR sector, a pilot plant, the final step before operating a large-scale process, was built last year and is currently undergoing commercialization verification. Lee emphasized, "Waste plastic recycling technology and BMR technology are innovative technologies secured by applying the capabilities accumulated over 60 years to new fields. SK Inno, which has accumulated top-level technology through long-term petrochemical technology development, is best positioned to solve carbon issues."

Regarding CCS, SK Inno is participating in a national project for carbon capture and storage at the East Sea gas field, which can store 400,000 tons of carbon dioxide annually under the sea. They plan to develop technology to capture carbon dioxide emitted during the process. In the future, they also plan to develop technology that not only stores carbon dioxide but reutilizes it as future eco-friendly energy such as e-fuel.

SK Inno's management strategy aligns with SK Group's 'Financial Story' management and the practical task 'Carbon to Green' strategy necessary to promote it. The Financial Story is an ESG (Environmental, Social, and Governance) management strategy that significantly strengthens non-financial factors trusted by stakeholders, as well as sales and operating profit. Lee said, "This year is a year of new challenges based on the past 60 years. Together with our members, we will gather strength and wisdom to boldly and fiercely implement an R&D culture of challenge and illuminate the path toward SK Inno's new 60 years."

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