[Concall] SK Inno: "SK On trades in KRW with Hyundai Kia... Cannot benefit from strong dollar"

Q3 Earnings Conference Call

[Asia Economy Reporter Choi Seoyoon] On the 3rd, during the Q3 2022 earnings conference call, SK Innovation was asked about the extent to which exchange rate effects influenced SK On's operating profit. They stated, "Among SK On's customers, one of the largest shares is held by Hyundai Kia Motors," adding, "In that case, a significant portion of sales is received in Korean won, so they do not benefit from the strong dollar."

They continued, "We believe this exposure may change in the future," and said, "As everyone knows, SK On's sales proportion to other customers such as Ford, Daimler, and Volkswagen is gradually increasing."

They added, "As the dollar-denominated sales proportion gradually grows, we expect the exposure to become neutral, and consequently, the impact of exchange rates to decrease."

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