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Industry

SK Chairman Choi Tae-won checks Ulsan sites three months after AX overhaul declaration

SK Group Chairman Choi Tae-won (최태원) is inspecting the group\'s AI transition progress by visiting SK AI Data Center Ulsan and SK Innovation\'s UlsanCLX on Sept. 10, SK Group said. The visit comes three months after Choi declared an \"AX-centered management overhaul\" at the New Icheon Forum in June. Executives from key affiliates are accompanying him as he reviews implementation of the group\'s \"AI full-stack provider\" strategy from infrastructure to manufacturing AX.

Industry

SK Innovation to absorb SK IET as business division, targets operating profit break-even in 2029

SK Innovation plans to absorb SK IE Technology (SK IET) as a business division, targeting an annual EBITDA improvement of 60 billion won through organisational consolidation and lower interest costs. The merger is set for Jan. 1, 2027, and SK IET will cease to exist. The company aims to turn the separator business EBITDA positive within 2 to 3 years and expects operating profit to return to the black in 2029, with a focus on ESS demand.

Industry

SK Innovation to absorb SKIET in merger to block battery business risks

SK Innovation will absorb battery separator subsidiary SKIET through a small-scale merger after SKIET posted a 211.4 billion won net loss last year. The company said unstable finances at the disappearing company could disrupt separator supply and lead to production disruptions at battery unit SK On. The merger ratio is 1 to 0.1174540, and new shares to be issued total 4,481,300. The merger date is Jan. 1, 2027.