"Oil Development-Green Synergy Creation" SK EarthOn, Second Half Strategy Workshop

Myungseong, President of SK Earth On, is giving a greeting at the 'SK Earth On Second Half Strategy Workshop' held on the 19th-20th at Walkerhill Arcadia in Gwangjin-gu, Seoul. Photo by SK Innovation

SK Innovation's resource development subsidiary SK Earth On announced on the 22nd that it held a second half strategic workshop on the 19th and 20th at Walkerhill Arcadia (SK Training Center) in Gwangjin-gu, Seoul, to discuss next year's management plans and key initiatives.

Myungseong, President of SK Earth On, delivers a greeting at the 'SK Earth On Second Half Strategic Workshop' held on the 19th and 20th at Walkerhill Arcadia in Gwangjin-gu, Seoul.

At the workshop, Myungseong, President of SK Earth On, said, "Since the launch of SK Earth On in 2021, we have established a financial story aiming to transform into a 'carbon-neutral company' by 2030. Securing sustainability as an independent corporation by 2024 is a short-term goal to achieve the financial story, and we are progressively accomplishing this."

SK Group's financial story is a strategy to accelerate growth by creating a growth story that includes attractive goals and concrete execution plans beyond general financial performance such as sales and operating profit, thereby gaining trust and empathy from customers, investors, and other stakeholders.

SK Earth On plans to pursue sustainability through technological superiority in the existing oil development (upstream) sector while positioning green business such as carbon capture and storage (CCS) as another pillar to secure a foundation for future growth.

This year, it began crude oil production in the China 17/03 block, marking the first case of independently achieving everything from crude oil exploration to development and production using its own technology. Building on this achievement, next year it plans to concretize business opportunities to secure CCS storage sites in Australia, the United States, and explore CCS business opportunities in Malaysia, Vietnam, and other countries.

President Myung said, "Over the past two years, we have laid the foundation for the leap toward a carbon-neutral company," and urged employees, "Going forward, please focus on devising concrete execution plans to create synergy between oil development and green sectors for the implementation of the 'Carbon to Green' financial story."

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