Company Directory - SK Innovation Co., Ltd.
Company Details - SK Innovation Co., Ltd.
SK Innovation Co., Ltd.
WebsiteSeoul, South Korea
SK Innovation is a South Korean company engaged in the energy, chemicals, and battery sectors. The company offers innovative solutions in petroleum refining, lubricants, petrochemicals, and energy storage, serving a global market.
CCI Score
CCI Score: SK Innovation Co., Ltd.
22.96
-0.01%
Latest Event
US finalizes $9.63B government-backed loan to SK On joint battery venture
The U.S. Energy Department finalized a $9.63 billion low‐cost loan for a joint venture between Ford and SK On, the battery unit of SK Innovation, to finance the construction of three new battery manufacturing plants in Tennessee and Kentucky. The deal supports advanced battery technology development, clean energy production, and local job creation.
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SABOTEUR
SK Innovation Co., Ltd. is currently rated as a Saboteur.
Latest Events
- DEC162024
The U.S. Energy Department finalized a $9.63 billion low‐cost loan for a joint venture between Ford and SK On, the battery unit of SK Innovation, to finance the construction of three new battery manufacturing plants in Tennessee and Kentucky. The deal supports advanced battery technology development, clean energy production, and local job creation.
+30
Technology and Services Impact
March 28
The government loan facilitates significant advancements in battery technology and clean energy production. SK On's involvement in developing state-of-the-art battery manufacturing aligns with progressive goals by reducing fossil fuel dependence and promoting sustainable innovation.
US finalizes $9.63 billion loan for Ford, SK On joint battery venture
+40
Economic and Structural Influence
March 28
The sizeable investment in the joint battery venture is poised to enhance economic infrastructure by creating jobs and bolstering regional manufacturing capabilities. This economic boost supports community development and progressive economic restructuring, aligning with anti-authoritarian, worker-friendly principles.
US finalizes $9.63 billion loan for Ford, SK On joint battery venture
- JUN302024
SK Innovation was reported among South Korea's top conglomerates that significantly ramped up lobbying efforts in the U.S. Congress during the first half of 2024. The reported combined lobbying expenditure of $7.62 million by major firms highlights this push to influence U.S. policymaking.
-60
Political Contributions and Lobbying Efforts
March 28
By engaging in significant lobbying efforts in the U.S., SK Innovation is actively trying to influence political processes in a way that favors corporate priorities over democratic accountability and workers' rights. This action is viewed negatively from an anti-fascist, progressive standpoint as it potentially reinforces entrenched power structures and undermines efforts to promote social equity.
Samsung, SK, Hyundai Motor, LG Spent $7.62 Mil. Lobbying Expenditures in H1 in U.S.
- JUN012023
SK Innovation released a comprehensive Human Rights Management Report in June 2023. The report details the company's proactive policies on human rights, labor practices, workplace safety, non-discrimination, and diversity and inclusion. It outlines measures to prevent forced and child labor, safeguard employee welfare, and ensure ethical treatment throughout its operations and supply chain.
+80
Labor Relations and Human Rights Practices
March 28
The report demonstrates a strong commitment to protecting human rights and ensuring ethical labor practices. By clearly outlining policies against forced labor, discrimination, and unsafe working conditions, and promoting diversity and inclusion, SK Innovation positions itself as a progressive company. This transparency and adherence to global human rights standards positively contribute to an anti-authoritarian, worker-friendly agenda.
- JAN012023
In its 2023 CDP submission, SK Innovation disclosed that its only disclosed membership was to the Korea Business Council for Sustainable Development (KBCSD), indicating a limited approach to political lobbying and an orientation towards sustainability. This minimal political engagement is viewed as a positive sign of transparency and restraint in the realm of corporate political influence.
+20
Political Contributions and Lobbying Efforts
March 28
SK Innovation’s choice to disclose only its membership in a sustainability-focused council suggests it refrains from extensive or opaque political lobbying activities. This limited engagement is interpreted positively within an anti-authoritarian framework, emphasizing transparency and alignment with progressive, sustainable practices rather than aggressive political maneuvering.
- JAN012022
SK Innovation’s ESG report outlines its initiatives to nurture environmental startups, expand CSR programs, and build partnerships with government and private stakeholders to create a green ecosystem.
+40
Public and Political Behavior
March 28
SK Innovation collaborates with government bodies and public institutions to foster environmental initiatives, a demonstration of progressive public and political engagement that supports collective environmental action.
+50
Business Practices and Ethical Responsibility
March 28
The company’s robust CSR programs and its strategic ESG commitments, including the EGG program for nurturing environmental startups, highlight responsible business practices and ethical responsibility.
+20
Technology and Services Impact
March 28
SK Innovation leverages advanced technologies in collaborations such as AI-driven CCS projects and low-carbon innovations, contributing positively to its technology and services impact in the environmental domain.
+10
Economic and Structural Influence
March 28
Through strategic partnerships and investment in a green ecosystem, SK Innovation aims to influence economic structures in favor of sustainable growth and environmental stewardship.
- JUL222021
SK Innovation reached a milestone agreement with its unionized workers to improve employee benefits, including enhancements to the holiday system, educational support for workers' children, and a review of the shift work system. The agreement, achieved after constructive dialogue, marks a positive development in labor relations with 88.5% approval in the final vote.
+80
Labor Relations and Human Rights Practices
March 28
The agreement between SK Innovation and its unionized workforce represents a significant improvement in labor standards and employee welfare. The company's proactive stance in enhancing worker perks and revising labor practices aligns with progressive, anti-authoritarian labor relations, thereby earning a high positive score in the Labor Relations and Human Rights Practices category.
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Industries
- 324110
- Petroleum Refineries
- 324121
- Asphalt Paving Mixture and Block Manufacturing
- 324199
- All Other Petroleum and Coal Products Manufacturing
- 335999
- All Other Miscellaneous Electrical Equipment and Component Manufacturing
- 336320
- Motor Vehicle Electrical and Electronic Equipment Manufacturing