">
SK Innovation reported an 83 percent decline in operating profit and a net loss.
SK Earthon, an oil drilling subsidiary of SK Innovation, said that a partner company hit 370 feet of net pay in an oil exploration well off the coast of Vietnam.
Executives at SK Innovation will start working on Saturday from next month as part of the oil company's plan to fortify its competitiveness and respond swiftly to global risks.
The eighth Great Music Festival in Seoul showcased disabled artists, featuring 238 teams. Saxophone quartet Ensemble Harmonia won the grand prize.
SK Group Chairman Chey Tae-won said that data centers are one of his top priorities in his push for AI, aligning with the company's planned 82 trillion won ($61.5 billion) investment in the sector by 2028.
SK Earthon has secured rights to explore the Ketapu Cluster in Sarawak, Malaysia, controlling 85% of the site, which holds significant oil and gas reserves.
The merger of SK Innovation and SK E&S was approved with a sweeping 85.76 percent consensus at SK Innovation's shareholder meeting on Tuesday.
The National Pension Service, the second-largest shareholder of SK Innovation, will vote against its merger with SK E&S as governance advisors voice opposition to the move.
The SK Innovation-SK E&S merger will pave the way for the company to provide a solution for the surging power demand driven by AI technology, SK Group Chairman Chey Tae-won said.
The boards of SK Innovation and SK E&S approved a merger, setting the stage for the biggest restructuring at SK Group in over two decades in a bid to keep SK On afloat.
Korea JoongAng Daily Sitemap