SK Inno and SK E&S to Hold Merger Board Meeting on the 17th

SK Innovation, the intermediate holding company of SK Group, and SK E&S, a key affiliate in the group's business restructuring (rebalancing), will hold a board meeting on the 17th to approve a merger plan.

According to industry sources on the 11th, SK Innovation will hold a board meeting to resolve the merger with SK E&S.

If the merger is successful, a mega energy company worth over 100 trillion won will be created. This merger aims to improve the financial structure of SK On, the battery affiliate struggling due to the electric vehicle chasm (temporary demand stagnation), and shareholder opposition from SK Inc., the largest shareholder of SK E&S, is expected.

SK E&S is 90% owned by SK Inc. It has served as a cash cow for SK Inc. so far.

SK Seorin Building, Jongno-gu, Seoul [Photo by SK]

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