Kim Jun, President of SK Innovation, "Green is the New Vision... It Must Be Completely Different"

[Asia Economy Reporter Park So-yeon] Kim Jun, CEO of SK Innovation, emphasized, "If we do not adopt eco-friendly and green values as a new growth vision, it will be difficult to guarantee future survival," and pledged to implement 'Green Balance 2030.'

Green Balance 2030 refers to balancing management activities by reducing negative environmental impacts and increasing positive ones.

According to SK Innovation on the 12th, Kim stated in a column contributed to the company's English internal news channel, "The core concern is how to overcome environmental issues, which are the limitations of petrochemical companies."

Kim mentioned that the international credit rating agency S&P pointed out that the value of energy and chemical companies should be reduced by 30% from the current level due to environmental issues, adding, "Ultimately, if we do not change, it will be impossible to sustain growth or survival."

He continued, "We must go beyond the perception that environmental issues are inherent limitations of the industry and now adopt them as a new growth vision," explaining, "If we continue as is, not only will corporate value decline, but future survival will also be difficult to guarantee."

Kim said, "Stakeholders such as investors are demanding fundamental changes (deep change) that go beyond short-term improvement efforts and completely different from existing methods and limitations."

He announced that SK Innovation will strongly promote business model transformation to achieve the company's goal of 'Green Balance 2030.'

SK Innovation aims to become the world's third-largest in electric vehicle battery business and the world's number one in the materials business by continuously increasing investment in these representative eco-friendly businesses.

Kim stated, "We will not only expand investment in eco-friendly businesses but also create a value chain that considers everything from battery production to repair and recycling, growing into a provider of e-Mobility solutions," adding, "We will evolve into a comprehensive energy solution company linked with the energy storage system (ESS) business."

He added, "Green Balance 2030 is the company's vision and new identity," concluding, "Through achieving the 2030 goals, the company will be reborn anew."