SK considers merging two energy affiliates, SK Innovation stock soars
![The headquarters of SK in central Seoul[YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2024/06/20/f39d6f6a-9099-4a11-a736-426842620e4c.jpg)
The headquarters of SK in central Seoul[YONHAP]
The stock shot up by 15.47 percent as of 10:33 a.m. to reach 121,700 won ($88).
The petrochemical affiliate of SK explained in an electronic disclosure that it is considering merging with another energy affiliate, SK E&S, although nothing has been decided yet.
The statement was released after multiple local media reports suggested that the two affiliates — whose combined asset size exceeds 100 trillion won — would merge.
SK Group is trying to restructure its businesses amid mounting losses and debts, mainly incurred by a downturn in EVs and semiconductors.
BY PARK EUN-JEE [park.eunjee@joongang.co.kr]
with the Korea JoongAng Daily
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