Park Sang-gyu, President of SK Enmove, First Overseas On-site Management Since Inauguration..."Must Maintain Global Competitive Edge"

Visiting European and Japanese Corporations from 10th to 14th and 19th to 21st
On-site Business Inspection and Encouragement of Team Members

SK Enmove President Park Sang-gyu has embarked on his first overseas on-site management trip since taking office to strengthen the company's position as the global No.1 in the Group 3 base oil market.

President Park Sang-gyu of SK Enmove (fifth from the right in the front row) visited SK Enmove Europe, located in Amsterdam, Netherlands, on the 13th of this month (local time) and took a commemorative photo with local members. Photo by SK Innovation

Recently, lubricant companies have been removing impurities from used lubricants and refining the recycled base oil to produce new lubricant products. Lubricants produced in this way have lower carbon emissions. Group 3 (according to the American Petroleum Institute classification) products refer to those with sulfur content of 300 ppm or less, saturation of 90% or higher, and a viscosity index of 120 or above.

SK Enmove announced on the 28th that President Park Sang-gyu visited its European and Japanese subsidiaries to review local operations and future strategies. Park visited the European subsidiary located in Amsterdam, the Netherlands, from the 10th to the 14th, and then visited the Japanese subsidiary in Tokyo from the 19th to the 21st to encourage the staff.

SK Enmove is a global lubricant company that exports more than 75% of its production. As Korea's first lubricant company, SK Enmove has grown into a global company based on advanced base oil production technology and overseas networks. It has expanded production capacity and developed global sales channels by establishing joint ventures with major overseas energy companies such as Repsol in Spain and Pertamina in Indonesia.

Sang-gyu Park, President of SK Enmove. Photo by SK Enmove

SK Enmove has a total of six overseas subsidiaries located in the United States, Europe, Japan, and other regions. Its base oil and finished lubricant production bases are located not only in Ulsan but also in Cartagena, Spain; Dumai, Indonesia; and Tianjin, China. In particular, SK Enmove's base oil production capacity, including the Ulsan plant, is about 80,300 barrels per day, ranking it among the top three worldwide. Its lubricant base oil brand 'Ubase' holds the No.1 market share in the Group 3 base oil market.

Since overseas subsidiaries play a key role as core bases for global management, President Park visited them consecutively to understand global issues and directly share the strategic direction of the company as an 'energy efficiency company' after the name change. Especially in Europe, where there is high interest in eco-friendly businesses and the market leads related trends, he listened to opinions related to future strategies.

Following the name change to an energy efficiency company, President Park ordered the strengthening of competitiveness in preparation for the upcoming electric vehicle era. With the trend toward premium lubricants, demand for premium base oils in Group Ⅲ is expected to increase, meaning SK Enmove must leverage its base oil competitiveness to capture new markets.

Additionally, President Park solidified cooperative relationships by meeting with major local customers such as BP Castrol, ENEOS, and Idemitsu. Given the nature of the base oil business, where entry into new markets is difficult except for refiners capable of large-scale facility investments and raw material procurement, maintaining close relationships with customers is crucial to strengthening business competitiveness.

President Park said, "The value of being an 'energy efficiency company' must be recognized not only domestically but also in the global market," adding, "Based on our capabilities that have led the lubricant industry, let us continue to maintain a competitive edge in markets with high growth potential such as electric vehicles."

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