On the 27th (local time), at Danfoss headquarters located in Nordborg, Denmark, Jang Dong-hyun, Vice Chairman of SK Inc. (right), and Kim Fausing, CEO of Danfoss (left), shook hands after signing a memorandum of understanding. Photo by SK Inc.
SK Inc. is joining forces with Danfoss, a leading Danish company with a 90-year history, to build a "sustainable future" based on a shared commitment to ESG (Environmental, Social, and Governance) management.
On the 27th (local time), SK Inc. announced on the 29th that it signed an MOU (Memorandum of Understanding) for close cooperation in five major global trend areas?Climate Change, Urbanization, Digitization, Electrification, and Food & Water Supply?at Danfoss headquarters in Nordborg, Denmark. The signing ceremony was attended by about 10 representatives from both companies, including SK Inc. Vice Chairman Jang Dong-hyun and Danfoss CEO Kim Fausing.
Since May, the two companies have been discussing business areas where synergy can be created. Through this MOU, they plan to actively collaborate on joint business development and global marketing in the five major global trend areas. In particular, they will soon form a joint task force (TF) focusing on areas with clear synergy between the two companies, such as eco-friendly businesses, electric vehicles, energy infrastructure, and key components controlling power conversion like SiC power semiconductors, smart glass that adjusts solar and thermal transmittance, and fast chargers for electric vehicles.
Founded in 1933, Danfoss is a global energy and automation solutions company with approximately 42,000 employees and 97 production facilities across more than 20 countries. Its electronic control and hydraulic business (Power Solutions) accounts for about 50% of sales, alongside heating and cooling solutions (Climate Solutions) and electric motor control solutions (Power Electronics & Drives).
Recently, Danfoss has been focusing investments on eco-friendly businesses, achieving annual growth rates exceeding 12% since 2017. Last year, it recorded sales of approximately 10.3 billion euros (about 14.7 trillion KRW) and EBITDA of 1.7 billion euros (about 2.4 trillion KRW).
Earlier, on the 24th (local time), SK Inc. also signed an MOU with Semikron Danfoss, Danfoss’s power semiconductor subsidiary, focusing on cooperation in the silicon carbide (SiC) power semiconductor field.
Semikron Danfoss, headquartered in Nuremberg, Germany, is a global technology leader in power electronics, producing semiconductor devices such as diodes and transistors that regulate semiconductor charge, as well as power modules?key components of fast chargers for electric vehicles?in countries including Germany, Brazil, the United States, China, France, and India.
Through the MOU with Semikron Danfoss, SK Inc. plans to explore ways to enhance synergy and strengthen competitiveness with its subsidiaries such as SK Siltron and SK Powertech.
Jang Dong-hyun, Vice Chairman of SK Inc., said, "Through collaboration with a global technology-leading company, we expect to create growth opportunities in the SiC power semiconductor field and various eco-friendly businesses, while maximizing the ESG outcomes that SK pursues."
Danfoss CEO Kim Fausing stated, "This MOU will serve as a catalyst to accelerate the green transition by expanding the sustainable technology areas held by both companies. Based on an innovative partnership, we will create the foundation for building a better future."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
