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SK Group said Tuesday that it posted record exports of more than $60 billion (64.8 trillion won) last year.
The group said the ratio of exports to its total earnings reached 74 percent. Main exporters of its business units included SK Innovation, SK Energy, SK Global Chemical, SK Hynix, SK Lubricants and SKC.
The figure means SK supplied more than 10 percent of the nation’s total exports in 2012, according to estimates by the Ministry of Knowledge Economy.
In particular, four petrochemical-related subsidiaries including SK Innovation took the initiative by reaping about 53 trillion won in collective exports as they tapped the overseas market.
Chemical-related units such as SK Chemical and SKC reported exports of 1.3 trillion won, while SK Hynix also contributed the group’s brisk performance despite the globally sluggish semiconductor market.
In a statement, they attributed the noteworthy export growth to outgoing chairman Chey Tae-won’s focus on global strategies.
“While the ratio of exports stayed at 30.8 percent in 1997, the figure exceeded 70 percent in 2008,” a group spokesman said. Chey took his post as the group chairman in 1998.
Last year, Chey unveiled an unprecedented investment plan worth 19 trillion won.
He has said, “With the takeover of Hynix, this year should be the starting point of the group’s growth as a global player.”
SK, which marks the 60th anniversary of its foundation in 2013, predicts that its robust exports will continue this year with its high value-added products in the petrochemical and polyester film segment.
SK Lubricants is moving to complete a joint venture plant in Spain by 2014, with a daily production capacity of 12,000 barrels of lubricating base oil.
SK Global Chemical has agreed with Japan’s JX Energy to build a plant in Ulsan to produce a million tons of paraxylene a year, starting 2014.
By Kim Yon-se (kys@heraldcorp.com)
The group said the ratio of exports to its total earnings reached 74 percent. Main exporters of its business units included SK Innovation, SK Energy, SK Global Chemical, SK Hynix, SK Lubricants and SKC.
The figure means SK supplied more than 10 percent of the nation’s total exports in 2012, according to estimates by the Ministry of Knowledge Economy.
In particular, four petrochemical-related subsidiaries including SK Innovation took the initiative by reaping about 53 trillion won in collective exports as they tapped the overseas market.
Chemical-related units such as SK Chemical and SKC reported exports of 1.3 trillion won, while SK Hynix also contributed the group’s brisk performance despite the globally sluggish semiconductor market.
In a statement, they attributed the noteworthy export growth to outgoing chairman Chey Tae-won’s focus on global strategies.
“While the ratio of exports stayed at 30.8 percent in 1997, the figure exceeded 70 percent in 2008,” a group spokesman said. Chey took his post as the group chairman in 1998.
Last year, Chey unveiled an unprecedented investment plan worth 19 trillion won.
He has said, “With the takeover of Hynix, this year should be the starting point of the group’s growth as a global player.”
SK, which marks the 60th anniversary of its foundation in 2013, predicts that its robust exports will continue this year with its high value-added products in the petrochemical and polyester film segment.
SK Lubricants is moving to complete a joint venture plant in Spain by 2014, with a daily production capacity of 12,000 barrels of lubricating base oil.
SK Global Chemical has agreed with Japan’s JX Energy to build a plant in Ulsan to produce a million tons of paraxylene a year, starting 2014.
By Kim Yon-se (kys@heraldcorp.com)
