SK Group () is a South Korean multinational

manufacturing Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of the secondary sector of the economy. The term may refer ...

and

services Service may refer to: Activities * Administrative service, a required part of the workload of university faculty * Civil service, the body of employees of a government * Community service, volunteer service for the benefit of a community or a ...

conglomerate headquartered in

Seoul Seoul, officially Seoul Special Metropolitan City, is the capital city, capital and largest city of South Korea. The broader Seoul Metropolitan Area, encompassing Seoul, Gyeonggi Province and Incheon, emerged as the world's List of cities b ...

. A

chaebol A chaebol ( , ; , ) is a large industrial South Korean conglomerate run and controlled by an individual or family. A chaebol often consists of multiple diversified affiliates, controlled by a person or group. Several dozen large South Kore ...

(Korean family-owned conglomerate), SK Group is the second largest such conglomerate by revenue in South Korea, after

Samsung Group Samsung Group (; stylised as SΛMSUNG) is a South Korean multinational manufacturing conglomerate headquartered in the Samsung Town office complex in Seoul. The group consists of numerous affiliated businesses, most of which operate unde ...

. Through a number of subsidiaries, it is engaged in various businesses, including manufacture of

chemicals A chemical substance is a unique form of matter with constant chemical composition and characteristic properties. Chemical substances may take the form of a single element or chemical compounds. If two or more chemical substances can be combin ...

and

petrochemical Petrochemicals (sometimes abbreviated as petchems) are the chemical products obtained from petroleum by refining. Some chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal or natural gas, or renewable s ...

semiconductor A semiconductor is a material with electrical conductivity between that of a conductor and an insulator. Its conductivity can be modified by adding impurities (" doping") to its crystal structure. When two regions with different doping level ...

flash memory Flash memory is an Integrated circuit, electronic Non-volatile memory, non-volatile computer memory storage medium that can be electrically erased and reprogrammed. The two main types of flash memory, NOR flash and NAND flash, are named for t ...

and miscellaneous

information technology Information technology (IT) is a set of related fields within information and communications technology (ICT), that encompass computer systems, software, programming languages, data processing, data and information processing, and storage. Inf ...

, as well providing

telecommunications Telecommunication, often used in its plural form or abbreviated as telecom, is the transmission of information over a distance using electronic means, typically through cables, radio waves, or other communication technologies. These means of ...

services worldwide among its other less notable ventures. The conglomerate is composed of 186 subsidiaries and affiliates that share the SK brand name and the group's management culture, named SKMS (SK Management System). It changed its name from Sunkyong Group () to SK Group in 1998. The group is controlled by estate of

Chey Tae-won Chey Tae-won (; born December 3, 1960) is a South Korean billionaire businessman and the Chair (officer), chairman of SK Group, the country's second largest conglomerate, that includes 186 subsidiaries such as SK Telecom, SK Hynix, and SK Innov ...

through a holding company, SK Inc. The cornerstone of SK Group is its energy and chemicals division.

History

Formation and early production

As with many other

s, SK Group's chairmanship was 'inherited' from father to son: from its founder the late Chey Jong-hyon to its present chairman

(eldest son). Chey Tae-won was married to the daughter of the former South Korean President

Roh Tae-woo Roh Tae-woo (, ; 4 December 1932 – 26 October 2021) was a South Korean army general and politician who served as the sixth president of South Korea from 1988 to 1993. In 1987, he became the first president to be directly elected under the cur ...

until 2015. SK Group began when the current founders acquired Sunkyong Textiles (founded during the Japanese rule as a joint venture between two Japanese companies, Senman Chutan and

Kyoto Kyoto ( or ; Japanese language, Japanese: , ''Kyōto'' ), officially , is the capital city of Kyoto Prefecture in the Kansai region of Japan's largest and most populous island of Honshu. , the city had a population of 1.46 million, making it t ...

-based Kyoto Orimono Company) from South Korean government as abandoned property of Japan in 1953. In 1958, the company manufactured Korea's first

polyester Polyester is a category of polymers that contain one or two ester linkages in every repeat unit of their main chain. As a specific material, it most commonly refers to a type called polyethylene terephthalate (PET). Polyesters include some natura ...

fiber on company grounds. It established Sunkyong Fibers Ltd. in July 1969, and started to produce original yarn. In 1973, SK then established Sunkyong Oil, beginning a vertical integration strategy to manage production, "From Petroleum to Fibers". That same year, the company acquired the Walkerhill Hotel. In 1976, Sunkyong Corporation received an international trading company license from the Indian government. In December 1980 SK purchased privately run Korea National Oil, making it Korea's fifth largest conglomerate. In January 1988, crude oil was imported for processing to Korea from

Yemen Yemen, officially the Republic of Yemen, is a country in West Asia. Located in South Arabia, southern Arabia, it borders Saudi Arabia to Saudi Arabia–Yemen border, the north, Oman to Oman–Yemen border, the northeast, the south-eastern part ...

Marib Marib (; Ancient South Arabian script, Old South Arabian: 𐩣𐩧𐩨/𐩣𐩧𐩺𐩨 ''Mryb/Mrb'') is the capital city of Marib Governorate, Yemen. It was the capital of the ancient kingdom of ''Saba’, Sabaʾ'' (), which some scholars beli ...

oil field.

1990s to 2000s

In June 1994, SK entered Korea's telecommunications business by becoming Korea Mobile Telecommunication Service's largest shareholder. In January 1996, SK Telecom launched Korea's first commercial

CDMA Code-division multiple access (CDMA) is a channel access method used by various radio communication technologies. CDMA is an example of multiple access, where several transmitters can send information simultaneously over a single communicatio ...

cellular phone service in

Incheon Incheon is a city located in northwestern South Korea, bordering Seoul and Gyeonggi Province to the east. Inhabited since the Neolithic, Incheon was home to just 4,700 people when it became an international port in 1883. As of February 2020, ...

and

Bucheon Bucheon (; ) is a city in Gyeonggi Province, South Korea. Bucheon is located away from Seoul, of which it is a satellite city. It is located between Incheon and Seoul. Bucheon is the second most densely populated city in South Korea after Seo ...

. In 1998, Management re-branded Sunkyong to SK. In 1999, SK Chemicals developed third-generation (non cross resistant) platinum-complex anti-cancer agent. Also, by focusing its research and development efforts on life sciences, SK Corporation developed YKP1358, a new drug candidate for

schizophrenia Schizophrenia () is a mental disorder characterized variously by hallucinations (typically, Auditory hallucination#Schizophrenia, hearing voices), delusions, thought disorder, disorganized thinking and behavior, and Reduced affect display, f ...

, in 2003. In 2002, SK Telecom successfully launched the world's first commercial

EV-DO Evolution-Data Optimized (EV-DO, EVDO, etc.) is a telecommunications standard for the wireless transmission of data through radio signals, typically for broadband Internet access. EV-DO is an evolution of the CDMA2000 ( IS-2000) standard which ...

technology, allowing it to offer 3G telecommunications service. In 2004, SK Telecom enabled satellite

DMB DMB may refer to: * " D.M.B.", a song by ASAP Rocky * DMB Development, a Limited Liability Corporation based in Scottsdale, Arizona * DaMarcus Beasley, nicknamed DMB, an American soccer player * Dave Matthews Band, a U.S. rock band * Del McCoury B ...

service by deploying the world's first DMB satellite. Moreover, in 2006, SK began revitalizing the 3.5-generation mobile phone market and in the following year, completed the construction of the national

HSDPA High Speed Packet Access (HSPA) is an amalgamation of two mobile protocols—High Speed Downlink Packet Access (HSDPA) and High Speed Uplink Packet Access (HSUPA)—that extends and improves the performance of existing 3G mobile telecommunic ...

network. In May 2006, SK Telecom started the world's first commercial 3.5-generation HSDPA service, featuring high-quality video telephony and data transmission, and global roaming access. In 2005, SK Networks opened China's first two wholly foreign-owned, gas stations in Shenyang. Then, after exploring Brazilian mining area BM-C-8, SK Corporation developed an oil field where it confirmed the existence of more than 50 million barrels of oil deposits. SK Gas began developing resources overseas when it participated in two mining areas to the west of Russia's Kamchatka peninsula in March 2006. In early 2006, SK Networks also developed Ecol-Green, a

biodegradable plastic Biodegradable plastics are plastics that can be decomposed by the action of living organisms, usually microbes, into water, carbon dioxide, and biomass. Biodegradable plastics are commonly produced with renewable raw materials, micro-organisms, ...

material. Incheon Oil officially started operations using the SK name in March 2006. SK Energy is currently engaged in 27 oil fields in 15 countries worldwide. SKC imported

propylene oxide Propylene oxide is an epoxide with the molecular formula C3H6O. This colourless volatile liquid with an odour similar to ether, is produced on a large scale industrially. Its major application is its use for the production of polyether polyols f ...

(PO, a chemical used in manufacturing

polyurethane Polyurethane (; often abbreviated PUR and PU) is a class of polymers composed of organic chemistry, organic units joined by carbamate (urethane) links. In contrast to other common polymers such as polyethylene and polystyrene, polyurethane term ...

) production technology from Germany in May 2006. It is scheduled to produce 100,000 tons of PO from 2008. At the end of 2005, SK Corp. developed a lithium-ion battery separator (LiBS) for the first time in Korea, and started selling the product in 2006. In July 2007, SK Group adopted a holding company structure. Under the re-organization, SK's main entity, SK Corporation, was split into an investment company, now SK Inc. and an operating company, now SK Energy. The subsidiary companies that now operate under the central SK Inc. umbrella include: SK Energy, SK Telecom, SK Networks, SKC, SK E&S, SK Shipping and K Power. SK acquired Hynix for US$3 billion in February 2012, rebranding it to SK Hynix.

Recent history

In February 2017, SK acquired the polyethylene acrylic acid business of

Dow Chemical Company The Dow Chemical Company is an American multinational corporation headquartered in Midland, Michigan, United States. The company was among the three largest chemical producers in the world in 2021. It is the operating subsidiary of Dow Inc., ...

for $370 million, and planned to increase battery production capacity from 1.9 to 3.9 GWh per year at the end of 2018, supplying Kia and Mercedes. In July 2022, SK Group announced a $22 billion investment in the United States semiconductor, green energy bioscience and other technology industries. In total, SK Group will invest over $52 billion in the United States by 2025. SK Networks said August 20, 2024 it has sold its rental car unit for 820 billion won (US$618 million) to a Singapore-based private equity fund. In November 2024, SK Group Chairman

was appointed chairman of the board of directors of Soldigm, SK Hynix's U.S.-based NAND flash memory unit. On Dec. 23, 2024, SK sold 85 percent of its subsidiary SK Specialty to Hahn & Company, a domestic private equity fund (PEF). The value of the stake in the sale is worth about W2.7 trillion.

Subsidiaries

Holdings

* SK Inc. () is a

holding company A holding company is a company whose primary business is holding a controlling interest in the Security (finance), securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own Share ...

which resulted when SK Corporation was reorganized on July 1, 2007, into a holding company and operating company, SK Inc. and SK Energy, respectively. SK Inc. is a part of the SK Group that focuses on 4 core business interests, High-tech materials, Bio, Green and Digital. The SK Group is composed of 186 affiliate companies that share the SK brand and culture. In 2021, SK Group recorded combined revenues of $133 billion, with exports contributing $50 billion of that total. SK continues to expand its global presence, with more than 117,590 employees who work from 473 offices worldwide.

Energy and chemicals

SK Innovation SK Innovation Co., Ltd. () is an intermediate holding company of SK Group engaged in petroleum, alternative energy, and oil exploration. It runs its business through eight major subsidiaries, including SK Energy, SK Geo Centric, SK On, SK , SK I ...

() is a South Korean enterprise formed as part of the July 1, 2007 reorganization of SK Corporation into a holding company and operating company, SK Inc. and SK Energy, respectively. In 2011, the petroleum business was spun off to become SK Energy. Simultaneously the chemical business was spun off to become SK Innovation. SK Energy was founded in 1962 as Korea's first oil refinery. In 1982, changed company name to Yukong. SK Energy is an energy and petrochemical company with 5,000 employees, KRW 23.65 trillion in sales and 26 offices spanning the globe. The company is Korea's largest (and Asia's fourth largest) refiner with a refining capacity of 1.15 million barrels per day, as of 2006. SK Energy is engaged in exploration and development activities in 26 oil / gas blocks in 14 nations worldwide. * SKC (), headquartered in

, is the leading Korean company in chemical and film industry. SKC was founded and established in 1976 as previous name of Sunkyong Chemicals Ltd (). SKC developed polyester films firstly in Korea, by its own efforts. With its main plant and R&D center located in

Suwon Suwon (; ) is the largest city and capital of Gyeonggi Province, South Korea's most populous province. The city lies approximately south of the national capital, Seoul. With a population of 1.2 million, Suwon has more inhabitants than Ulsan, tho ...

South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia. It constitutes the southern half of the Korea, Korean Peninsula and borders North Korea along the Korean Demilitarized Zone, with the Yellow Sea to the west and t ...

, it also operates large capacity of film plant in

Covington, Georgia Covington is a city in the U.S. state of Georgia and the seat of Newton County, and is part of the Atlanta metropolitan area. As of the 2020 census, its population was 14,192. History Covington was founded by European immigrants to the Unite ...

, United States. * SK E&S: A comprehensive energy company. Its businesses include city gas, LNG, and renewable energy. It holds 22 per cent of the domestic city gas market. Recently, it has entered the hydrogen energy business. * SKC: SKC is engaged in chemicals, films, and solar. Including all subsidiaries, the company reported revenue of KRW2.7 trillion and operating profit of KRW190 billion in 2021. Its debt-to-equity ratio was 138% as of 3Q15. As one of the few conglomerates in Korea that focuses on chemical/material/component manufacturing and R&D, it has a long history among SK Group companies. In the past, the company produced videos, floppy disks, CDs, etc. but is now mainly engaged in B2B business such as chemical solutions, industrial films, and new materials. It is often confused with SK chemicals, but they are not the same company.

Information and communications technology

SK Telecom SK Telecom Co., Ltd., abbreviated as SKT ( or ) is a South Korean wireless telecommunications operator and former film distributor and is part of the SK Group, one of the country's largest chaebols. It leads the local market with 50.5 perce ...

() is Korea's No. 1 mobile phone company and the parent company of the SK Group ICT Family, a group of telecoms and semiconductor companies. As of the third quarter of 2024,

recorded sales of KRW 4.532 trillion, operating profit of KRW 533.3 billion, and net profit of KRW 280.2 billion. Its debt-to-equity ratio is just 134 per cent. *

SK Broadband SK Broadband, Inc. , formerly known as Hanaro Telecom, is a Seoul-based telecommunications company and a wholly owned subsidiary of SK Telecom. It is one of the largest broadband Internet access providers in South Korea. Until its takeover in 20 ...

: SK Broadband is responsible for wired and wireless internet communications, IPTV, telephony, IDC, and network solution products. * SK Square () is a portfolio management company. * SK Inc. C&C was established in 1991 and is currently one of the "Big Three" IT services companies in Korea. SK C&C has business interests across IT services, including telecommunications, banking & finance, government, public, logistics, and other fields. *

SK Communications SK Communications (Hangul: SK커뮤니케이션즈 or ''에스케이커뮤니케이션즈'') is a South Korean technology company that owns and operates popular web portal Nate. It offers Internet access and telecommunications services for resi ...

: The company that operates Nate.

Semiconductor and materials

SK Hynix SK Hynix Inc. () is a South Korean supplier of dynamic random-access memory (DRAM) chips and flash memory chips. SK Hynix is one of the world's largest semiconductor vendors. Founded as Hyundai Electronics in 1983, SK Hynix was integrated into ...

() is the world's 3rd-largest semiconductor manufacturer and the 2nd-largest in South Korea after

Samsung Electronics Samsung Electronics Co., Ltd. (SEC; stylized as SΛMSUNG; ) is a South Korean multinational major appliance and consumer electronics corporation founded on 13 January 1969 and headquartered in Yeongtong District, Suwon, South Korea. It is curr ...

which is the leader in the global

semiconductor industry The semiconductor industry is the aggregate of companies engaged in the design and fabrication of semiconductors and semiconductor devices, such as transistors and integrated circuits. Its roots can be traced to the invention of the transistor ...

. SK Hynix was founded in 1983 as "Hyundai Electronics", which is the origin of its name "Hynix", and merged to SK Group in 2012 when SK Telecom became the major shareholder. The major products are

DRAM Dram, DRAM, or drams may refer to: Technology and engineering * Dram (unit), a unit of mass and volume, and an informal name for a small amount of liquor, especially whisky or whiskey * Dynamic random-access memory, a type of electronic semicondu ...

, and many other semiconductor materials. While its headquarter is located at

Icheon Icheon (; ) is a Administrative divisions of South Korea, city in Gyeonggi Province, South Korea. Together with Yeoju, Icheon is known as a center of South Korean ceramic manufacturing and is a Creative Cities Network, UNESCO City of Crafts and ...

Gyeonggido Gyeonggi Province (, ) is the most populous province in South Korea. Seoul, the nation's largest city and capital, is in the heart of the area but has been separately administered as a provincial-level ''special city'' since 1946. Incheon, ...

, it also runs a large production line at

Cheongju Cheongju (; ) is the capital and largest list of cities in South Korea, city of North Chungcheong Province in South Korea. The 'Cheong' in the name of Chungcheong Province is the Cheong of Cheongju. History Cheongju has been an important prov ...

North Chungcheong Province North Chungcheong Province (), also known as Chungbuk, is a province of South Korea. North Chungcheong has a population of 1,578,934 (2014) and has a geographic area of located in the Hoseo region on the south-centre of the Korean Peninsula. No ...

. * SK Siltron is the only semiconductor wafer manufacturer in Korea, and it has grown hand in hand with the semiconductor industry over the last 35 plus years. Armed with a record-long history of mass production and accumulated know-how, the company expands its production capacity in a preemptive manner and continues to strengthen its manufacturing and technology competitiveness. At the same time, the company is expanding its business portfolio to include emerging areas such as SiC wafers. This lays a strong foundation for SK Siltron to grow to become one of the world’s best semiconductor materials players both in production volume and profitability.

Logistics, services and bio

* SK Biopharmaceuticals () is a

drug discovery In the fields of medicine, biotechnology, and pharmacology, drug discovery is the process by which new candidate medications are discovered. Historically, drugs were discovered by identifying the active ingredient from traditional remedies or ...

and

drug development Drug development is the process of bringing a new pharmaceutical drug to the market once a lead compound has been identified through the process of drug discovery. It includes preclinical research on microorganisms and animals, filing for regu ...

company. It discovered

solriamfetol Solriamfetol, sold under the brand name Sunosi, is a wakefulness-promoting medication used in the treatment of excessive sleepiness related to narcolepsy and sleep apnea. It is taken by mouth. Common side effects of solriamfetol include hea ...

. * SK Ecoplant is a Korean

construction Construction are processes involved in delivering buildings, infrastructure, industrial facilities, and associated activities through to the end of their life. It typically starts with planning, financing, and design that continues until the a ...

company founded and established in 1977 with a previous name of Sunkyong Construction (), headquartered in

Gwanhun-dong Gwanhun-dong is a '' dong'' (neighborhood) of Jongno District, Seoul, South Korea. It is a legal dong (''beopjeong-dong'' ) governed under its administrative dong (''haengjeong-dong'' ), Jongno 1, 2, 3, 4 ga-dong. The area is bordered by Anguk- ...

Jongno-gu upright=1, Bosingak bell pavilion Jongno District () is one of the 25 districts of Seoul, South Korea. It is the historic center of Seoul that contains Gyeongbokgung, the main royal palace of the Joseon dynasty, and the Blue House, the for ...

, Seoul. Its brands include SK View, SK Hub, and Apelbaum. The company's CEO is Ki Haeng Cho. Industries: Oil & Gas, Petrochemical, Power, Environmental Protection, Industrial, Civil, Building, Housing. Services:Feasibility Study, EPC Service, Project Management, Operations & Maintenance. * SK networks: A conglomerate that operates a variety of businesses, including trading, information and communication, energy distribution, consumer goods, and car rental. *

SK Oceanplant SK Oceanplant () is a large South Korean company headquartered in Goseong County, South Gyeongsang Province, engaged in steel pipe manufacturing, offshore wind power generation, and shipbuilding. It is an affiliate of SK Group SK Group () is a ...

: It is a subsidiary of SK Innovation, which produces offshore wind farms and ship parts. * SK pharmteco is a global contract development and manufacturing organization specializing in the production of active pharmaceutical ingredients (APIs), intermediates and viral vectors for cell and gene therapy for the pharmaceutical industry. SK Pharmteco operates six facilities in Europe, North America and Korea.

Management system

SK's subsidiary companies all operate under the SK Management System (SKMS) which was developed, articulated and enhanced by SK's Chairman,

. On April 7, 2008, SK Group launched a marketing and management company named "SK Marketing & Company".

Dissolution/Sale

* Kyungsung Rubber Industries: Merged into SK Warehouse in 1998. * Kyungjin Shipping: Liquidated in 1998 after transferring assets to a new company, Phil Ocean Shipping (now Inter Ocean Shipping). * SK Life (now Mirae Asset Life): Acquired by

Mirae Asset Group Mirae Asset Financial Group () is a South Korean multinational financial services company headquartered in Seoul, South Korea. Mirae Asset provides comprehensive financial services including asset management, wealth management, investment bankin ...

in 2005. *

SK Wyverns SSG Landers () are a South Korean professional baseball, professional baseball team. The team was originally established as the SK Wyverns but was renamed as the SSG Landers in 2021 after Shinsegae acquired the team from SK Group. They are a membe ...

(now

SSG Landers SSG Landers () are a South Korean professional baseball team. The team was originally established as the SK Wyverns but was renamed as the SSG Landers in 2021 after Shinsegae acquired the team from SK Group. They are a member of the KBO League. B ...

): Sold to E-Mart in 2021.

References

{{DEFAULTSORT:Sk Group Chaebol Companies listed on the Korea Exchange Conglomerate companies established in 1953 Conglomerate companies of South Korea Manufacturing companies based in Seoul Multinational companies headquartered in South Korea Non-renewable resource companies established in 1953 Oil companies of South Korea Petrochemical companies South Korean brands Technology companies of South Korea South Korean companies established in 1953 Manufacturing companies established in 1953