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SK Group's Overseas Sales Account for 54% of Total Sales in 2017
Performance in Overseas Sales
SK Group's Overseas Sales Account for 54% of Total Sales in 2017
  • By Yoon Yung Sil
  • February 5, 2018, 02:30
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SK Group’s overseas sales reached 75.4 trillion won (US$69.4 billion), accounting for 54.2 percent of the total sales.
SK Group’s overseas sales reached 75.4 trillion won (US$69.4 billion), accounting for 54.2 percent of the total sales.

 

SK Group’s proportion of exports in its total sales reached a record high last year. According to SK Group on Feb. 4, its subsidiaries posted combined sales of 139 trillion won (US$127.93 billion) in 2017. Overseas sales reached 75.4 trillion won (US$69.4 billion), accounting for 54.2 percent of the total. The proportion is an all-time high after its overseas sales exceeded half of its total sales for the first time at 52.2 percent in 2014. The conglomerate's contribution to the nation's exports of 578 trillion won (US$531.98 billion) also increased to a record high at 13 percent.

By business, the group’s main energy and chemical businesses led its exports with 35.7 trillion won (US$32.86 billion), followed by information and communication technology (ICT) with 30.3 trillion won (US$27.89 billion) and logistics services with 9.5 trillion won (US$8.74 billion).

In particular, its ICT business surpassed 30 trillion won (US$27.61 billion) of exports for the first time, boosted by a boom in the global semiconductor industry. In addition, SK Innovation, one of SK Group’s energy and chemical subsidiaries, posted 46.8 trillion won (US$43.07 billion) in sales and 33.5 trillion won (US$30.83 billion) in exports last year, with its proportion of exports in sales reaching 71.6 percent.

An official from SK Group said, “This is largely due to our heavy investments in expansion of facilities and research and development for source technologies after SK Hynix has been incorporated into SK Group. Based on the competence in technologies and successful conversion to microfabrication, SK Hynix put up a good show in the memory chip market last year.”