Chey Jae-won, vice chairman of SK Group, stated on Jan. 10 (local time) that significant progress has been made in the development of cylindrical batteries. He also mentioned that while it’s challenging to predict the exact timing of SK on’s IPO due to internal and external conditions, it will proceed as soon as possible when the time is right.
During a press meeting at CES 2024 in Las Vegas, Chey said, “We are developing all three types of battery form factors (pouch, prismatic, and cylindrical) to meet the diverse specifications required by different customers.”
He added, “We have already completed the development of the prismatic form and have made considerable progress in the cylindrical form as well. The production timing will be aligned with customer demand.”
Regarding SK on’s forecast for turning a profit in the fourth quarter, Chey said, “The automobile market is not in a great state, so it’s uncertain if the results will be as good as we hope. However, we have done our best.” He continued, “We are using this as an opportunity to strengthen our fundamentals.”
On the topic of SK on’s stock market listing, he stated, “It’s hard to predict at the moment considering the financial market and our preparations, but we will proceed as soon as it’s feasible.”
When asked about his impressions of CES, Chey commented, “I mainly looked at automotive and battery technologies. There are many changes, and it’s evident that the industry is rapidly evolving.”
During his second day at CES, Chey toured major global company booths in the morning and attended business meetings in the afternoon. He walked over 10,000 steps in the morning to visit booths and spent the afternoon in relay meetings while having packed meals and sandwiches to eat.