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SK Group (Korean: SK 그룹, 에스케이 그룹) is the fourth largest conglomerate (Chaebol) in South Koreamarker.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 Yemenmarker’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 Incheonmarker and Bucheonmarker.

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 Germanymarker 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 Koreamarker 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 Koreanmarker 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 Seoulmarker, South Koreamarker. 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 Koreamarker 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



References

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