SK D&D, the real estate development arm of SK Group, announced on March 4 that it held a board meeting and completed its spin-off into two entities: SK D&D and SK eternix.
As a result of the spin-off, SK D&D will focus on real estate operations, while SK eternix will specialize in renewable energy
SK D&D is establishing itself as a comprehensive real estate specialist company. While solidifying its position as a leading developer in the real estate industry, it is also expanding into space platforms and lifestyle solution businesses, adding new growth momentum as a “lifestyle platform” company.
In particular, it plans to enhance its corporate value by diversifying business models through joint ventures with domestic and international partners, synergies with its asset management subsidiary D&D Investment (DDI), and its real estate operation and management specialist subsidiary, D&D Property Solution (DDPS), as well as engaging in project financing.
SK D&D CEO Kim Do-hyun said, “SK D&D will establish a stable revenue generation base through diversification of financial structures in response to market conditions. At the same time, we will lay the groundwork for new growth momentum through the visualization of platform business initiated since last year.”
SK eternix is replacing its founding general meeting with its board meeting on the 4th and beginning anew as a specialized renewable energy company. It is a leading domestic eco-friendly energy generator with a diverse portfolio including solar, wind, energy storage systems (ESS) and fuel cells.
The split ratio between the two companies is approximately 77 percent for SK D&D and approximately 23 percent for SK eternix. Stock trading will be suspended until March 28, and trading will resume after SK D&D’s listing change and SK eternix’s relisting on March 29.