SK Lubricants to Change Company Name to 'SK Enmove' on the 1st of Next Month

New Identity and Scalability Granted
Strengthening Execution of Financial Story
Leap to an 'Energy Efficiency Company'

SK Lubricants announced on the 20th that it will change its company name to 'SK enmove' to strengthen the execution of its financial story and emphasize its new identity as an 'energy efficiency company.' Photo by SK Lubricants

[Asia Economy Reporter Donghoon Jung] SK Lubricants announced on the 20th that it will change its company name to 'SK enmove' to strengthen the execution of its financial story and emphasize its new identity as an 'energy efficiency company.'

SK Lubricants stated that it is changing its name to 'SK enmove' to overcome the limitations of its current name, which intuitively expresses its existing business areas such as lubricants, and to convey its new identity as an 'energy efficiency company' based on its financial story to the market and key stakeholders. The new name will be applied from the 1st of next month, and TV commercials to announce this began airing on the 20th.

The meaning of the new name 'SK enmove' is a company that creates the power (Movement) to move toward a cleaner (Environmental) and happier future. It is formed by combining the prefix 'en' from 'environmental,' 'ensuring,' and 'enabling' with 'move' from 'movement.'

Specifically, it embodies a strong commitment to creating ▲ an Environmental Movement that connects technology and the environment toward a sustainable tomorrow, ▲ an Ensuring Movement that guarantees a more convenient tomorrow through innovation-based technology, and ▲ an Enabling Movement that promises a happy tomorrow by greatly expanding human potential.

Cha Gyutak, President of SK Lubricants, emphasized, "With the name change to SK enmove, we will continue innovation in both existing and new businesses to ultimately secure a new identity as an 'energy efficiency company.' We will continuously strengthen the core competitiveness of existing businesses such as base oils and lubricants, and actively pursue securing competitiveness in new businesses such as lubricants for electric vehicles and thermal management."

SK Lubricants holds a dominant position as the market leader in the global base oil market for premium Group III and Group III+ base oils. The company plans to further strengthen its position in the global lubricant market by focusing on premium base oils and high-performance lubricants, including ultra-low viscosity products that improve vehicle fuel efficiency and contribute to reducing carbon dioxide emissions.

Additionally, SK Lubricants aims to evolve and develop as an 'energy efficiency company' by actively promoting new businesses that enhance electrical efficiency. By expanding the development and supply of lubricants dedicated to electric vehicles, it plans to improve driving efficiency by reducing unnecessary energy consumption, and quickly secure competitiveness in liquid-based thermal management businesses such as data center immersion cooling and battery thermal management to enhance power efficiency.

As part of this, SK Lubricants made a $25 million equity investment in March in GRC, a U.S.-based company specializing in data center immersion cooling systems. Based on cooperation between the two companies, SK Lubricants plans to jointly develop cooling oils using its base oils and data center immersion cooling systems, rapidly promote standardization and commercialization, and grow into a comprehensive liquid-based thermal management solution provider.

An SK Lubricants official said, "We introduced the new name 'SK enmove,' which has scalability and symbolism, in line with the company's financial story strategy direction and new identity as an 'energy efficiency company.' While strengthening existing businesses that can generate long-term and stable high profits centered on the high-quality premium market, we will accelerate the Green Transformation by early settling new businesses such as lubricants for electric vehicles and thermal management."

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