SKC to Transform Itself into Green Mobility Material and Parts Company

SKC will transform itself into a company that specializes in green mobility materials and components.

"We will innovate the governance structure and change the identity of SKC," president Lee Wan-jae said at the 48th regular general shareholders' meeting at the company’s main office in Seoul on March 30.

SKC has been actively promoting innovation in business models to strengthen growth engines. For instance, it acquired a copper foil company. Copper foil is a core material for electric vehicles batteries. As a result, sales and operating profit grew 14.4 percent and 36.5 percent, respectively, last year despite COVID-19..

Lee proposed three growth strategies. First, SKC will completely transform itself into a company specializing in green mobility materials and components. In the copper foil business, the company plans to expand production facilities at home and abroad to become the global No. 1 player. It will also look for opportunities to enter other green mobility businesses.

In the chemical and industrial materials business, the company plans to upgrade its business models based on ESG and move toward a sustainable business structure. Its industrial materials business will focus on high-tech IT and eco-friendly sectors, while its chemical business will significantly increase the proportion of materials for food, beverages, medicines and personal hygiene products.

SKC will expand materials for a carbon emission reduction such as smart window films in terms of carbon emissions and Zero Net in plastics and reduce carbon emissions by implementing the RE100 as the basis for new businesses. It also plans to actively promote biodegradable material and recycling businesses.