[Sponsored Report] SK Innovation climbs 6 spots on 2017 ‘C&EN’s Global Top 50’
SK Innovation jumped up the most places out of any company in Asia except for India’s Reliance Industries. The six-place jump put the Korean energy company on par with Germany’s Lanxess in terms of rate of improvement.
The annual ranking, titled the “C&EN’s Global Top 50,” is based on a company’s revenue, operating profit and growth rate.
SK Innovation’s growth came on the back of its focus on its chemical business based on its “Deep Change 2.0” shared infrastructure.
The company’s non-oil business was worth 56 percent of its total operating profit in the second quarter. The chemical business alone was worth 33 percent of the overall profit.
Large-scale investment has also contributed to SK Innovation’s growth.
Since 2011, the company has been developing Nexlene, a proprietary technology used to manufacture polyolefin. Nexlene completed technical development and has now shifted to production. The company has taken 6.3 trillion won in profit based on these pre-emptive investments.
SK Innovation’s growth is fueled by its “Global Partnering” strategy, which reinforces collaboration with overseas major companies, and new business takeovers to expand its portfolio.
SK Innovation is making joint ventures and seeking partnerships through M&As with global leading companies such as DowDupont, Sinopec and Sabic.
C&EN’s recognition shows that SK Innovation’s growth and development has been recognized in the global market.
BY KIM HA-EUN [firstname.lastname@example.org]
More in Guest Reports
Hyundai E&C’s Daegu complex boasts convenience
[SPONSORED REPORT] Hyundai Mobis strengthens its global R&D network
[SPONSORED REPORT] Posco practices its own motto by giving back
[SPONSORED REPORT] Chong Kun Dang offers solution for parasitic worms
[SPONSORED REPORT] Kumho Tire successfully streamlines operations