SK’s manufacturing sales up nearly 50% in 2011

SK Group said yesterday that its manufacturing affiliates’ 2011 sales are estimated to have jumped nearly 50 percent from a year earlier mainly thanks to increased sales in overseas markets.

Sales of SK Group’s manufacturing affiliates such as SK Innovation, SK Energy, SKC and SK Chemicals are estimated at around 72.3 trillion won ($62.1 billion) for last year, up 48.5 percent from a year earlier, according to the group.

Strong exports led the overall sales growth, the group said. The SK manufacturers’ exports jumped 57.6 percent on-year to 45.5 trillion won or 62.9 percent of its total annual sales.

That ratio is the highest ever for the group. It is also up from the previous year’s export ratio of 59.3 percent, the group said.

The dependency on overseas sales is expected to increase further if SK Group’s move to purchase Hynix Semiconductor Inc. is finalized.

Market observers say that the takeover of the chip making giant will bring SK Group’s exports up to about 55 trillion won, which will make up 70 percent of its total sales.