[Special Stock] SK Innovation Rises on Large Orders for Subsidiary SK On

SK Innovation is showing an upward trend in the early trading session on the 20th, buoyed by news of a large-scale battery supply contract by its subsidiary SK On.

As of 9:50 a.m. on the same day, SK Innovation's stock price is trading at 127,600 KRW per share, up 2.41% compared to the previous day. It showed a strong rise of over 7% in the early session, briefly surpassing the 133,000 KRW mark.

This is analyzed as a reaction to the announcement made the previous day that SK On, a subsidiary of SK Innovation, signed a contract to supply a total of 99.5 GWh (gigawatt-hours) of batteries over six years starting from 2028 with the Japanese automaker Nissan. Although the exact amount was not disclosed, the industry estimates it to be around 15 trillion KRW. This is the first time SK On has signed a contract with a Japanese automaker.

Positive evaluations are also confirmed within the securities industry regarding SK Innovation's liquefied natural gas (LNG) business. Earlier, Hyundai Motor Securities raised the target stock price to 160,000 KRW, reflecting the valuations of LNG trading companies, stating that "LNG and power generation businesses will be the stock price momentum going forward." iM Securities also analyzed that "starting from the second half of 2025, positive changes will become prominent in the E&S business, leading to a revaluation as an LNG company."