SK
Group (Korean: SK 그룹, 에스케이
그룹) is the fourth largest conglomerate (Chaebol) in South Korea
.The SK Group is composed of 92 subsidiary
and affiliate companies that share the SK brand and culture.It
changed its name from
Sunkyung Group (
Korean: 선경 그룹) to SK in 1997.SK Holdings
ranked 72nd in the 2009 Fortune Global 500. In 2001 SK was the
first Korean Company to own a
two
letter domain name, "SK.com". The company is now one of the 3
Korean Companies to be part of the prestigious VB.com Internet Hall
of Fame made of global companies owning it´s 2 letter Initials as
an Internet Address. SK Group has more than 30,000 employees who
work from 113 offices worldwide. Korean local
telephone and high-speed
Internet business. Among its products is the
wireless broadband service
WiBro.
History
As with many other
Chaebols SK Group's
chairmanship was 'inherited' from father to son; from its founder
the late Chey John-hyun to its present chairman Chey Tae-won
(eldest son). Che Tae-won is married to the daughter of the former
South Korean President
Roh
Tae-woo.
SK Group began when the current founders acquired Sunkyong Textiles
in 1953. In 1958, the company manufactured Korea's first
polyester fiber on company grounds. It established
Sunkyong Fibers Ltd. in July 1969, and started to produce original
yarn. In 1973, SK then established Sunkyong Oil, beginning a
vertical integration strategy to manage production, "From Petroleum
to Fibers”. That same year, the company acquired the Walkerhill
Hotel.
In 1976, Sunkyong Corporation received an international trading
company license from the Korean government. In December 1980 SK
purchased privately-run Korea National Oil, making it Korea’s fifth
largest
conglomerate.
In January
1988, crude oil was imported for processing to Korea from Yemen
’s Marib oil
field.
In June 1994, SK entered Korea’s telecommunications business by
becoming Korea Mobile Telecommunication Service's largest
shareholder.
In January 1996, SK Telecom launched Korea’s
first commercial CDMA cellular phone service in
Incheon
and Bucheon
.
In 2002, SK Telecom successfully launched the world’s first
commercial
CDMA 1X
EV-DO
technology, allowing it to offer
3G
telecommunications service. In 2004, SK Telecom enabled satellite
DMB service by deploying the world’s first
DMB satellite. Moreover, in 2006, SK began
revitalizing the 3.5-generation mobile phone market and in the
following year, completed the construction of the national
HSDPA network. In May 2006, SK Telecom started the
world’s first commercial 3.5-generation HSDPA service, featuring
high-quality video telephony and data transmission, and global
roaming access.
In 1998, Management re-branded Sunkyong to SK. In 1999, SK
Chemicals developed third-generation (non cross resistant)
platinum-complex anti-cancer agent. Also, by focusing its research
and development efforts on life sciences, SK Corporation developed
YKP1358, a new drug candidate for
schizophrenia, in 2003.
In 2005, SK Networks opened China's first two wholly foreign-owned,
gas stations in Shenyang. Then, after exploring Brazilian mining
area BM-C-8, SK Corporation developed an oil field where it
confirmed the existence of more than 50 million barrels of oil
deposits.
SK Gas began developing resources overseas when it participated in
two mining areas to the west of Russia’s Kamchatka peninsula in
March 2006. In early 2006, SK Networks also developed Ecol-Green, a
biodegradable plastic
material. Incheon Oil officially started operations using the SK
name in March 2006. SK Energy is currently engaged in 27 oil fields
in 15 countries worldwide
SKC
imported propylene oxide (PO, a chemical used in manufacturing
polyurethane) production technology
from Germany
in May
2006. It is scheduled to produce 100,000 tons of PO from
2008.
At the end of 2005, SK Corp. developed a lithium ion battery
separator (LiBS) for the first time in Korea, and started selling
the product in 2006. In July 2007, SK Group adopted a holding
company structure.
Under the re-organization, SK’s main entity, SK Corporation, was
split into an investment company, now SK Holdings and an operating
company, now SK Energy. The subsidiary companies that now operate
under the central SK Holdings umbrella include: SK Energy, SK
Telecom, SK Networks, SKC, SK E&S, SK Shipping and K
Power
Core Businesses
SK’s core businesses are energy and telecommunications. Eight SK
companies are listed on the Korea Stock Exchange:
SK Holdings,
SK Energy,
SK Telecom, SK Chemical, SKC&C, SK
Networks, SK Gas, and SK Securities. SK Telecom’s ADRs are also
listed on the New York Stock Exchange.
Restructuring
SK restructured in 2007. Under the re-organization, SK’s main
entity, SK Corporation, was split into an investment company, now
named SK Holdings, and an operating company, now named
SK Energy. SK Energy produces batteries for
CT&T and
Hyundai electric
vehicles.
Subsidiaries
The subsidiary companies that now operate under the central SK
Corporation holdings umbrella include:
SK
Energy,
SK Telecom,
SK Broadband,
SK
Networks,
SKC,
SK
E&S,
SK Shipping,
SK telink,
K-Power and
SK C&C.
SK
Energy (Korean: SK
에너지 or 에스케이 에너지, ) is a South Korea enterprise. SK Energy
is a newly formed entity of the former SK Corporation. As of July
1, 2007, SK Corporation was reorganized into a holding company and
operating company, SK Holdings and SK Energy, respectively. Founded
in 1962 as Korea’s first oil refiner, SK Energy is one of the
world’s leading energy and petrochemical companies with 5,000
employees, KRW 23.65 trillion in sales and 26 offices spanning the
globe. The company is strategically positioned as Korea’s largest –
and Asia’s fourth largest – refiner with a refining capacity of
1.15 million barrels per day, as of 2006. SK Energy’s rapid growth
in its business sectors – coupled with an expanding position in
China – has helped position it as one of the most significant
enterprises in Asia Pacific’s energy marketplace. SK Energy is
currently engaged in exploration and development activities in 26
oil / gas blocks in 14 nations worldwide.
SK
Telecom(Korean: SK
텔레콤 or 에스케이 텔레콤, ) is a South Korean company specialising in offering mobile phone
services, wired and wireless combined services. It is part
of the SK Group and has evolved from a first-generation analog
cellular system operator to become the company that launched the
world's first commercial CDMA service. SK Telecom moved on to
operate Korea's first 2.5-G CDMA 2000 1X system, followed by the
world's first commercial 3-G synchronized cellur system. SK Telecom
also has the distinction of launching the world's first 3.5-G HSDPA
and SHUPA services.
SK Constructions Co, Ltd.' (Korean: SK 건설 or
에스케이 건설) is a Korean construction company founded and established in
1977 as previous name is Sunkyung Constructions
(Korean: 선경 건설), headquartered in
Gwanhun-dong Jongno-gu Seoul
, South Korea. and as company of apartment brand is SK View, SK
Hub, Apelbaum, at from apartment construction of Korea. the company
CEO is Son Kwan Ho. Industries:Oil & Gas, Petrochemical,
Power, Environmental Protection, Industrial, Civil, Building,
Housing. Services:Feasibility Study, EPC Service, Project
Management, Operations & Maintenance.
SK
Holdings (Korean:
SK 주식회사 or 에스케이 주식회사, ) is a
South
Korea enterprise.As of July 1, 2007,
SK Corporation was reorganized into a holding
company and operating company, SK Holdings and
SK Energy, respectively. SK Holdings is a part of
the SK Group that focuses on 3 core business interests, Energy
& Chemicals, Telecommunications, and Trading & Services.
The SK Group is composed of 88 affiliate companies that share the
SK brand and culture. In 2006, SK Group recorded combined revenues
of $75.8 billion, with exports contributing $26.4 billion of that
total. SK continues to expand its global presence, thanks to more
than 25,000 employees who work from 113 offices worldwide.
SK Telink (
Korean:
SK 텔링크 or
에스케이 텔링크 주식회사) is a
subsidiary of SK Telecom, was established in April 1998 as an
international telephony service provider and has grown into a major
player in the international calling market. Under the brand name
00700, the company provides quality international call services at
an affordable price. Building on the commercial long-distance
telephony and value-added services launched in 2005, the company
began offering Korean SMS in June 2006 in the U.S. The service
allows subscribers to send and receive Korean text messages in the
U.S., as well as to and from Korea. From 2008 on, SK Telink also
started e-Learning service(Giving Lectures to customers through the
internet) and Foreign Language Test service "BULATS". BULATS is
being used as a main English speaking test for the most of SK Group
subsidiaries.
SK C&C SK C&C is one another subsidiary / group company
of the SK Group. This organization unit was established in early
1990 with a clear aim to be one of the Top IT Products, Services
& Consulting company. SK C&C has business interests across
IT Services and Products and command a respectable position in the
global IT arena across multiple Industries including Telecom,
Banking & Finance, Government, Public, Logistics and etc. In
the product portfolio it has some of the best IT Products/Solutions
like
nVIOS - an end
to end OSS/BSS product suite geared for the next generation of the
Telco requirements,
xMAS and etc.As I am writing this, SK C&C is on
the rapid Global Expansion Plan and has both Business, Consulting
& Delivery centers spread across the Globe.
Management system
SK's subsidiary companies all operate under the SK Management
System (SKMS)which was developed, articulated and enhanced by SK’s
Chairman,
Tae-won Chey.The core
principle of SKMS is the quest for
SUPEX,
which means an abbreviation for super-excellent level.
See also
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