President Seokhee Lee: "SK Enmove to Operate as In-House Independent Company... Integration Task Force Underway"

Seokhee Lee Outlines Post-Merger Strategy for SK On and SK Enmove
Focus on Maintaining Independence and Expertise Through CIC Structure
Emphasizes Fundamental Competitiveness Over Short-Term Results
U.S. Plant Utilization and Customer Diversification Remain Key Priorities

Seokhee Lee, President and CEO of SK On, announced plans to operate SK Enmove as an in-house independent company (CIC) within SK On following their merger. This is the first time the company has disclosed specific details regarding its post-merger operations.

Seokhee Lee, CEO of SK On. SK On

On August 18, at the 'Icheon Forum 2025' held at Grand Walkerhill in Gwangjin-gu, Seoul, Lee told reporters, "SK Enmove will be operated as a CIC," adding, "We are also running a task force (TF) for the integration process." This strategy is interpreted as an effort to maintain the independence and expertise of each company.

Previously, on July 30, SK Innovation decided to merge its subsidiaries SK On and SK Enmove. SK On plans to absorb SK Enmove through a merger scheduled for November 1. Since SK Enmove recorded operating profit close to 1 trillion won last year, the completion of the merger is expected to significantly improve SK On's financial soundness.

Additionally, Lee expressed his determination not to focus on short-term results following the merger. He stated, "Rather than the performance of the merged company, I am more concerned about turning around the battery business," emphasizing, "Securing fundamental competitiveness is crucial."

Regarding the outlook for the battery business, Lee said, "There are various uncertainties in the second half of the year, so it will depend on how flexibly we respond to market conditions and how quickly we can achieve operational improvement (OI). While the integrated entity will be financially stronger, what is more important is to enhance the fundamental competitiveness of the battery business and achieve a turnaround."

Finally, Lee noted, "The key is the operating rate of our U.S. plant," and added, "We are working closely with our customers to maintain improved utilization rates, and discussions to diversify our client base are ongoing at all times."

SK Group is holding the 'Icheon Forum 2025' over three days from August 18 to 20. The forum was attended by over 250 participants, including Chairman Chey Tae-won, Senior Vice Chairman Chey Jae-won, Chairman Chey Chang-won of the SUPEX Council, key executives from SK affiliates, as well as academic and industry experts. Leaders from various sectors in AI, representatives from the Korea Chamber of Commerce and Industry, the Chey Institute for Advanced Studies, and the Foundation for Advanced Education also participated, deepening the discussions. In addition, there will be member discussion sessions aimed at strengthening the implementation of SKMS, SK Group's unique management philosophy.

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