[Breaking News] SK Innovation Passes Battery Business Split with 80.2% Approval...

[Asia Economy Reporter Hwang Yoon-joo] SK Innovation's physical division of its battery business unit has been finally approved.

SK Innovation announced on the 16th that at the extraordinary general meeting of shareholders held at the Seorin Building in Jung-gu, Seoul, the agenda to split the battery business unit and establish it as a 100% subsidiary was passed.

74.57% (62,331,624 shares) of the total shares attended the shareholders' meeting, and among them, 80.2% (49,981,081 shares) voted in favor. The approval secured more than two-thirds of the shares attending the meeting and more than one-third of the total shares, meeting the division conditions.

Accordingly, SK Innovation will officially launch 'SK Battery' (tentative name) on October 1, which will manufacture batteries for automobiles, small batteries, and energy storage systems (ESS).