SK and Canada Export Development Corporation Collaborate on Carbon Neutrality

Last April, SK Group and Export Development Canada held a meeting at the SK Seorin Building in Jongno-gu, Seoul, to discuss cooperation plans between the two companies. SK Group executives including Jang Yong-ho, President of SK Inc. (second from the left), Park Sang-gyu, President of SK Innovation (fourth from the left), Lee Seok-hee, President of SK On (first from the left), and Murray D. Laberge, President of EDC (third from the left), attended and took a commemorative photo. Photo by SK Inc.

SK Group is accelerating carbon neutrality through cooperation in advanced industries such as clean technology and batteries by partnering with Export Development Canada (EDC).

On the 4th, SK Inc. announced that it signed a "Memorandum of Understanding (MOU) for Establishing a Mid- to Long-term Cooperative Relationship between the Two Companies" with EDC.

EDC is a public export credit agency (ECA) established in 1994 with 100% investment from the Canadian federal government. It supports Canadian exports through export insurance, guarantees, and investments, and also provides financial support for policy projects such as eco-friendly and digital initiatives.

This MOU is significant as SK and the Canadian public financial institution have joined forces to develop eco-friendly industries under the common goal of "achieving carbon neutrality."

SK is striving to achieve net zero carbon emissions earlier than the global carbon neutrality target year of 2050. The Canadian government aims to achieve 100% renewable energy generation by 2050.

SK expects that cooperation with EDC will create a more stable investment environment to achieve net zero. SK, which possesses world-class manufacturing capabilities in semiconductors and batteries, anticipates synergy in advanced industries through collaboration with Canada, a country rich in key minerals such as lithium, cobalt, graphite, and nickel.

In April, the two companies met at the SK Seorin Building in Jongno-gu, Seoul, to discuss cooperation plans. The meeting was attended by SK Group executives including Jang Yong-ho, President of SK Inc., Park Sang-gyu, President of SK Innovation, and Lee Seok-hee, President of SK On, as well as key EDC executives such as Murray Laberge, President of EDC, Scott Moore, Vice President, and Joy Lankotge, Head of the Korea Representative Office.

Earlier, in May last year, SK Group Chairman Chey Tae-won met with Canadian Prime Minister Justin Trudeau during the 60th anniversary of Korea-Canada diplomatic relations, exchanging views on SK’s advanced business investments and Canadian government support measures.