SKIET to Go Public Today... "Will Emerge as the Global No.1 Material Solution Company"

No Jaeseok, CEO of SK IE Technology, is receiving a listing commemorative plaque from Sohn Byungdoo, Chairman of the Korea Exchange, at the SK IE Technology (SKIET) listing ceremony held at the Korea Exchange in Yeouido, Seoul on the morning of the 11th. Photo by Kang Jinhyung aymsdream@

[Asia Economy Reporter Hwang Yoon-joo] SK Innovation's materials business subsidiary SK IE Technology (SKIET) held a listing ceremony on the 11th at the Korea Exchange in Yeouido, Seoul.

The commemorative event began with SK IE Technology CEO Noh Jae-seok striking a large drum set up in the lobby of the new building of the Korea Exchange, receiving congratulations from Korea Exchange officials and representatives of the listing underwriters. This was followed by signing the listing contract and a presentation ceremony for the listing commemorative plaque, and concluded with SK Innovation President Kim Jun pressing the trading start bell to announce the commencement of SKIET's trading.

SKIET CEO Noh Jae-seok expressed, "I am grateful to everyone who helped achieve this successful listing, and we will further strengthen our business competitiveness and contribute to the development of the electric vehicle industry ecosystem with differentiated technology. Please watch the future of SK IE Technology, which will become the world's recognized No.1 material solutions company, together with us."

SKIET has established a dominant position in the lithium-ion battery separator market, its core business. Last year, it ranked first in the premium separator market. To secure the leading position, it developed proprietary technologies such as sequential stretching and CCS coating that can lead the market. Based on this, it manufactures thin yet strong separators with outstanding safety.

SKIET has also moved quickly in expanding its scale, currently securing an annual production capacity of 1.03 billion square meters. Additional investments are ongoing in countries such as Poland and China, and the production capacity is expected to reach 2.73 billion square meters in 2024. This capacity is sufficient to supply separators for approximately 2.73 million electric vehicles.

Leveraging this competitiveness, SKIET was recognized for its corporate value and successfully completed its IPO, setting a record for the highest subscription deposit ever with over 80 trillion won in public offering subscriptions.