MIRA
INFORM REPORT
|
Report Date : |
31.10.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SK ENERGY CO., LTD. |
|
|
|
|
Registered Office : |
SK Bldg., 99, Seorin-dong, Jongno-gu, Seoul - 110-728 |
|
|
|
|
Country : |
Korea |
|
|
|
|
Date of Incorporation : |
07/03/2007 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Petroleum Refineries |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
Basic
|
Company
Name |
SK ENERGY CO., LTD. |
|
Registered Address |
SK Bldg., 99, Seorin-dong, Jongno-gu,
Seoul, Korea |
|
Zip Code |
110-728 |
|
Tel |
+82-2-2121-5114 |
|
Fax |
+82-2-2121-7001 |
|
Website |
www.skenergy.com |
|
Trading Address |
SK Bldg., 99, Seorin-dong, Jongno-gu,
Seoul, Korea |
|
Tel |
+82-2-2121-5114 |
|
Fax |
+82-2-2121-7001 |
|
Ulsan Complex |
110, Gosa-dong, Nam-gu, ULSAN, KOREA |
|
Tel |
+82-52-208-2114 |
|
Fax |
+82-52-208-2002 |
|
Advanced Institute Of Technology |
140-1, Wonchon-dong, Yuseong-gu, Daejeon, Korea |
|
Tel |
+82-42-866-7331 |
|
Fax |
+82-42-866-7302 |
|
Type |
Export/Import |
|
Industry |
Petroleum Refineries |
|
Main Business |
Diesel, Gasoline, Lubricant, Ethylene, Polymer, Oil Refining,
Petrochemical |
|
Established (mm/dd/yyyy) |
07/03/2007 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Resins(13111000) |
|
Sell |
Polystyrene PS(13102026) |
|
Sell |
High Density Polyethylene HDPE(13102017) |
|
Sell |
Amines or imines or its
substitutes(12352116) |
|
Sell |
Elastomers(13101700) |
|
Sell |
Polyethylene(13111016) |
|
Sell |
Chemistry reagents or solutions(41116105) |
|
Sell |
Polypropylene PP(13102022) |
|
Sell |
Additives(12160000) |
|
Sell |
Aviation fuel(15101504) |
|
Sell |
Medium Density Polyethylene MDPE(13102019) |
|
Sell |
Thermoplastic plastics(13102000) |
|
Sell |
Aromatic or heterocyclic compounds(12352005) |
|
Sell |
Low Density Polyethylene LDPE(13102018) |
|
Sell |
Lubricating preparations(15121500) |
|
Sell |
Engine oil(15121501) |
|
Sell |
Grease(15121902) |
|
Sell |
Hydraulic oil(15121504) |
|
Sell |
Transmission oil(15121508) |
|
Sell |
Kerosene(15101502) |
|
Sell |
Fuel oil(15101700) |
|
Sell |
Asphalt(30121601) |
CEO’s
|
Name |
Chey Tae-Won |
|
Address |
35, Nonhyeon-dong, Gangnam-gu, Seoul, Korea |
|
Date of Birth |
12/03/1960 |
|
Title |
Chairman & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital |
463,109,605,000 KRW |
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|
Employees |
5,010 |
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|
Formation |
Listed Company (Korea Stock Exchange: 096770) as of 07/25/2007 A Company of SK Business Group With its shift to a holding company structure,
SK Corporation has been split into SK Holdings, a holding company, and SK
Energy, an operating affiliate concentrating in energy & chemicals,
effective July 1, 2007. Accordingly, trading for SK Corporation
shares was suspended June 27, 2007 at the close of the Korean Stock Exchange.
Trading in shares of SK Holdings, a holding company, and SK Energy, a newly
established operating company, will resume July 25, 2007. |
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Bank Details |
Hana Bank |
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Corporate Registered No. |
110111-3710385 |
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Business Registered No. |
101-86-32319 |
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Permit & Licenses |
N/A |
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Shareholder Position |
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Company History
2007. 7 Split into
a holding company (SK Holdings Co. Ltd.) and an operating company (SK Energy
Co. Ltd.)
2006. 9 Hybrid
Vehicle Battery Business Set to Start.
2006. 8 New
Overseas Exploration Projects.
2006. 6 Shareholder
Value Grand Prize Received.
2006. 6
Petrochemical facilities Expanded.
2006. 4 Ulsan Grand
Park Opened.
2006. 4 Global
Leadership in Group III Base Oil Secured.
2006. 3 SK Incheon
Oil Started.
2006. 2
Environment-friendly Washing Solvent Developed Credit Rating Raised to
"BBB-".
2006. 1 Peru LNG
Project Launched.
2006. 11
Shareholder Value Raised in Share Buyback.
2006. 10 Mass
Wedding for Disabled Couples Organized.
2006. 10 BOD
Meeting Held in Dubai.
2005. 9 Awarded the
6th Grand Prize in Auditing.
2005. 8 YKP3089 IND
Approval.
2005. 7 Export of
World’s First APU Technology.
2005. 6 Selected as
a “Good Corporate Governance Energy”.
2005. 12 Finalized
Agreement to Acquire Inchon Oil Refinery.
2005. 11 Opend Environmentally
Friendly Ultra-Low Sulfur Diesel Facility.
2004. 9 Second
Lubricant Base Oil Plant Completed.
2004. 7 SK Angels '
Kicks off ‘.
2004. 4 Breaking
Ground at Ulsan Grand Park.
2004. 10 SK China
Holding Co.,Ltd Established.
2003. 7 Signed a
contract with SK Chemical for R&D for P.O. (Propylene Oxide) manufacturing
technology, using hydrogen peroxide.
2003. 6 Became the
second company in the world following Dow Chemical of the U.S. to develop RT, a
next-generation material for hot water/heating pipes. The local Energy in the
U.S. had it certified as a new material.
2003. 4 Advanced
into the packing material market in China through establishment of a joint
venture with Zhejiang Shenxin Packaging Co., Ltd. for production of
agricultural chemicals using self-developed barrier resins in Hangzhou,
Zhejiang Province.
2003. 3 Selected as
a model business for voluntary compliance with the fair trade rules by the
Korea air Trade Association
2003. 12
Participated in of the Gwangyang LNG Thermal Power Plant construction project
with BP (British Petroleum).
2003. 10 Officially
signed a Petroleum Sharing Contract of North East Madura I Block, Indonesia,
with the Indonesian government.
2003. 10 Developed
YKP1358, a new drug candidate for treating schizophrenia and obtained U.S. FDA
IND (investigational new drug) approval, following YKP 10A for treating
depression and YKP 509 for treating epilepsy.
2003. 10 Commenced
production of crude oil from Su Tu Den Oilfield in Vietnam (The company, along
with the Korea National Oil Energy, has an equity stake in the oilfield.)
2002. 8
Establishment of International Trading (Shanghai) Co., Ltd. as a branch of SK
Energy in China to launch the sale thereat of the company's polymer products
2002. 7 Sale of SK
Energy holding equity in SK Telecom and overseas issuance of SK Telecom's
stocks amounting to KRW1.7 trillion (DRs, EB, etc.)
2002. 7 Launch of
SK Energy ERP system (named "e-SK")
2002. 4 Sale of SK
Energy catalyst manufacturing technology to the world-renowned catalyst provider,
Zeolyst International
2002. 4 Opening of
the first phase of the Ulsan Grand Park
2002. 3
Restructuring of our organization towards a market-oriented direction
(establishment of our Energy & Marketing Business Unit)
2002. 12 Johnson
& Johnson selected SK Energy antidepressant YKP581 as a clinical candidate.
2002. 11
Establishment of SK Energy branch in Zhaoging City, Guangdong Province, China,
for the production and sale thereat of its specialty polymer products (Zhaoging
A. P. Compounding Facility)
2002. 11
Establishment of SK Bio-Pharmaceutical Tech. (Shanghai) Co., Ltd., which
broadened SK Energy Korea-U.S.-China pharmaceutical R&D network
2002. 10
Celebration of SK Energy 40th foundation anniversary
2001. 9 OK Cashbag
Coupon Service introduced
2001. 7 Upgraded SK
Enclean supplied
2001. 5 World's
first commercialization of coke-reducing technology by on-line coating; major
oil discovery in Block 15-1 Vietnam
2001. 3 Technology
licensing business applying intangible assets activated (amount of orders received
KRW 60 billion in FY 2001)
2001. 3 Polluted
soil purification technology allied with Tefra Tech of the United States
2001. 3 Plant
operation technology licensed in Taiwan, Ghana, and Kuwait
2001. 3 Diesel
exhaust filtering technology licensed in Japan
2001. 3 Development
of Korea's first microorganism-activated VOC (Volatile Organic Compound)
bio-filter
2001. 2 Developed
Korea's DeNox-SCR catalyst (supplies previously depended entirely on imports)
2001. 1 NeTruck, a
business providing transport and logistics information for truck drivers and
owners, launched.
2001. 12
Telematics(entrac) businesses launched
2001. 10 ZIC XQ, a
100% synthetic highend engine oil, supplied; SK Energy named customer
satisfaction No.1 and brand power No. 1 in surveys by major consumer reports
2000. 7 Strategic
alliance with U.S. Johnson & Johnson for antidepressant (YKP10A).
2000. 1 Opened the
largest hub site in domestic -OK Cashbag.com
1999. 6 Strategic
alliance with U.S. Johnson & Johnson for anti-epileptic (YKP509)
1999. 3 Started OK
Cashbag accumulation type discount service
1999. 1 Inaugurated
gas specializing SK-Enron Co., Ltd.
1999. 11 Moved to
new Company building
1998. 9 Obtained
KOLAS (Korea Laboratory Accreditation Scheme) certification from National
Institute of Technology and Quality based in Korea.
1997. 6 SK E&P
Co. established (Houston, USA).
1997. 3 Operation
of No.2 Synthetic Resin manufacturing facility (annual production 320,000 tons)
1997. 3 No. 2
para-xylene plant started up (300,000 tons/yr.)
1997. 1 No. 2
para-xylene plant started up (300,000 tons/yr.)
1997. 10 Changed
company name into SK Co., Ltd. from SK Yukong.
1996. 7 Crude oil
production began at 8th Mine of Peru.
1996. 10 No.5
middle distillation unit started up (60,000 bpd).
1996. 10 No.5 atmospheric
distillation unit started up (200,000 bpd). Gross capacity: 810,000 bpd.
1995. 9 No.4 middle
distillation unit started up (50,000 bpd).
1995. 5 SK R&D
center established.
1995. 10
Lubricating base oil plant started up (3,500 bpd).
1994. 6 Korea Mobile
Telecom acquired.
1994. 11 Commercial
crude oil production commenced at North Zaafarana Concession in Gulf of Suez,
Egypt.
1993. 11 ISO 9001
certification obtained for all products and processes of 7 business lines.
1992. 11 No. 1 Heavy
oil, sulfuric acid eliminated (daily production 30,000 barrels), Resolving
facility (daily production 30,000 barrels)
1991. 5 No. 4
atmospheric distillation unit started up (200,000 bpd).
1990. 8
Polypropylene plant started up (150,000 tons/yr.).
1990. 5 Para-xylene
plant started up (200,000 tons/yr. of para-xylene, 50,000 tons/yr. of
ortho-xylene).
1990. 1 Cyclohexane
plant started up (100,000 tons/yr.).
1989. 12 No.2
Ethylene plant was started up (400,000 tons/yr).
1989. 12 No.2
Butadiene extraction plant was started up (73,000 tons/yr).
1988. 1 Started to
import crude oil explored in the Malibu continental shelf block of Yemen.
1987. 5 Yukong
Elastomer Co., Ltd. was established.
1985. 5 Total
refining capacity was increased to 345,000 bpd by expanding existing
atmospheric distillation units.
1985. 12 New
aromatic complex started up (400,000 tons/yr)
1985. 11 Increased
oil refining capacity by remodeling the upper pressure distillation facility
(345,000pbd).
1985. 11 Completed
Ulsan R&D Institute.
1984. 11 Yukong
Co., Ltd. stock was listed on the Korea Stock Exchange Market.
1982. 7 The company
name was changed to "Yukong Co., Ltd." from Korea Petroleum Energy.
1980. 8 Gulf's 50%
equity share and management right were acquired by SunKyung Co., Ltd.
1980. 3 Expanded
lubricating oil mixing facility (currently daily production 4,500 barrels)
1980. 12 SunKyong
Co., Ltd. acquired the management right in accordance with government
privatizing policy of the government owned company.
1978. 3 Naphtha
cracking center expanded to 155,000 tons/yr. of ethylene.
1974. 6 No. 2
atmospheric distillation unit expanded to 110,000 bpd.
1973. 3 Naphtha
cracking center started up (100,000 tons/yr. of ethylene).
1972. 9 Pipeline
connecting Ulsan Refinery and Taegu completed.
1972. 1 0No.3
atmospheric distillation unit started up (115,000 bpd).
1970. 6 50 percent
equity share and management rights acquired by Gulf Oil Corp.
1970. 5 Aromatic
plant started up (216,000 tons/yr.).
1968. 4 No. 2
atmospheric distillation unit started up (60,000 bpd).
1968. 12
Lubricating oil blending plant started up (550 bpd).
1967. 5 No. 1
atmospheric distillation unit expanded to 55,000 bpd.
1964. 4 No. 1
atmospheric distillation unit started up (35,000 bpd).
1962. 10 Korea Oil
Corp. established.
The Subject Company
is a Korea-based company engaged in the provision of petroleum, chemicals,
lubricating oil and coals.
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
|
Chairman & CEO |
Mr. |
Chey Tae-Won |
Male |
Korean |
07/03/2007 |
|
President & CEO |
Mr. |
Shin Heon-Cheol |
Male |
Korean |
07/03/2007 |
|
Executive Vice President |
Mr. |
Kim Joon-Ho |
Male |
Korean |
07/03/2007 |
|
Director - Professor Emeritus, Seoul National University - Chairman, Korean Classics Research Institute |
Mr. |
Cho Soon |
Male |
Korean |
07/03/2007 |
|
Director Attorney, Wooil IBC Law Group - Former Minister, Ministry of Government
Legislation |
Mr. |
Han Young-Suk |
Male |
Korean |
07/03/2007 |
|
Director -Distinguished Professor, Seoul National University |
Mr. |
Kim Tai-Yoo |
Male |
Korean |
07/03/2007 |
|
Auditor -Consultant, Sang-G Management Consulting |
Mr. |
Nam Dae-Woo |
Male |
Korean |
07/03/2007 |
|
Auditor -Professor, Chair of Department of Management Engineering, KAIST |
Mr. |
Han In-Goo |
Male |
Korean |
07/03/2007 |
|
Auditor |
Mr. |
Oh Se-Jong |
Male |
Korean |
07/03/2007 |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
23,651,502,515,000 |
14,338,380,000,000 |
1,394,024,439,000 |
Financial Description
Unit: KRW
|
Authorized
Capital |
1,750,000,000,000 |
|
Paid-Up
Capital |
463,109,605,000 |
|
Total Issues Shares |
92,621,921 |
|
Balance Sheet |
|||
|
|
Before Split |
After Split |
|
|
Unit : Million Korean Won |
As of 12/31/2006 (SK CORPORATION) |
As of 12/31/2006 (SK CORPORATION) |
As of 12/31/2006 (SK ENERGY CO., LTD.) |
|
Total Assets |
19,601,646 |
6,116,830 |
14,338,380 |
|
Current Assets |
6,618,660 |
523,073 |
6,095,587 |
|
-Quick Assets |
4,136,522 |
512,034 |
3,624,488 |
|
-Inventories |
2,482,138 |
11,039 |
2,471,099 |
|
Fixed Assets |
12,982,986 |
5,593,757 |
8,242,793 |
|
-Investment |
7,973,916 |
5,503,231 |
3,324,249 |
|
-Tangibles |
4,945,119 |
42,383 |
4,902,736 |
|
-Intangibles |
63,951 |
48,143 |
15,808 |
|
Total Liabilities |
11,570,603 |
2,965,063 |
8,605,540 |
|
Current Liabilities |
6,700,291 |
203,643 |
6,496,648 |
|
Fixed Liabilities |
4,870,312 |
2,761,420 |
2,108,892 |
|
Capital Stock |
653,452 |
190,389 |
463,063 |
|
Paid-In Capital In Excess of Par Value |
1,323,085 |
389,442 |
5,283,759 |
|
Capital Surplus |
2,652,808 |
2,652,808 |
- |
|
Profit Surplus |
4,776,598 |
4,776,598 |
- |
|
Capital Adjustment |
-1,374,900 |
-4,857,470 |
-13,982 |
|
Total Equity |
8,031,043 |
3,151,767 |
5,732,840 |
|
Liab. & Shareholder’s Equity |
19,601,646 |
6,116,830 |
14,338,380 |
As of 08/2007, its sales amount is 2,189,387,000,000 KRW (Petroleum Business:
1,459,467,000,000 KRW /Chemicals Business: 651,389,000,000 KRW/ Lubricating Oil
Business:78,531,000,000 KRW).
SK CORPORATION
|
Balance Sheet |
|||
|
Unit : Thousand Korean Won |
01/01/2007~03/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Total Assets |
19,179,483,243 |
19,601,646,302 |
17,509,207,571 |
|
Current Assets |
6,099,301,633 |
6,618,660,089 |
6,372,253,113 |
|
-Quick Assets |
3,611,816,163 |
4,136,522,531 |
4,262,979,489 |
|
-Inventories |
2,487,485,470 |
2,482,137,558 |
2,109,273,624 |
|
Fixed Assets |
13,080,181,610 |
12,982,986,213 |
11,136,954,458 |
|
-Investment |
7,967,046,543 |
7,973,916,128 |
5,753,624,095 |
|
-Tangibles |
4,957,886,002 |
4,945,118,962 |
5,321,413,798 |
|
-Intangibles |
64,942,902 |
63,951,123 |
61,916,565 |
|
Total Liabilities |
11,418,761,759 |
11,570,603,052 |
9,398,646,601 |
|
Current Liabilities |
6,166,804,536 |
6,700,290,845 |
5,278,413,869 |
|
Fixed Liabilities |
5,251,957,223 |
4,870,312,207 |
4,120,232,732 |
|
Capital Stock |
653,517,050 |
653,451,840 |
653,417,340 |
|
Capital Surplus |
3,976,301,474 |
3,975,892,980 |
3,975,393,193 |
|
Profit Surplus |
4,918,525,616 |
4,776,598,431 |
3,622,218,535 |
|
Capital Adjustment |
(-)1,787,622,656 |
(-)1,374,900,001 |
(-)140,468,098 |
|
Total Equity |
7,760,721,484 |
8,031,043,250 |
8,110,560,970 |
|
Liab. &
Shareholder’s Equity |
19,179,483,243 |
19,601,646,302 |
17,509,207,571 |
|
Current
Liabilities |
|
5,278,413,869 |
4,503,519,647 |
|
Trade
Payables |
|
1,480,882,354 |
952,650,804 |
|
Short-Term
Borrowings |
|
982,834,048 |
1,197,653,647 |
|
Accrued
Income Tax |
|
175,051,614 |
222,574,071 |
|
Accrued
Dividends |
|
128,568 |
155,553 |
|
Account
Payables |
|
464,751,767 |
328,584,928 |
|
Advance
Receipts |
|
7,752,034 |
5,146,920 |
|
Withholdings |
|
652,280,846 |
518,340,487 |
|
Accrued
Expenses |
|
555,841,466 |
418,944,247 |
|
Fixed
Liabilities |
|
4,120,232,732 |
3,671,784,946 |
|
Debentures |
|
3,365,617,010 |
2,236,707,234 |
|
Debentures-Foreign
Currencies |
|
- |
259,745,983 |
|
Long-Term
Borrowings |
|
121,091,070 |
67,470,850 |
|
Long-Term
Borrowings-Foreign Currencies |
|
326,505,469 |
276,043,724 |
|
Provision
for Severance & Retirement |
|
70,672,521 |
32,255,967 |
|
Income Statement |
|||
|
Unit : Thousand Korean Won |
01/01/2007~03/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Sales |
6,073,964,664 |
23,651,502,515 |
21,914,582,137 |
|
Cost of Sold Goods |
5,316,760,164 |
21,277,176,145 |
19,589,510,867 |
|
Gross Profit |
757,204,500 |
2,374,326,370 |
2,325,071,270 |
|
Selling & Admin. Expenses |
281,145,093 |
1,208,953,167 |
1,120,169,347 |
|
Operating Income |
476,059,407 |
1,165,373,203 |
1,204,901,923 |
|
Non-Operating Income |
348,549,039 |
1,708,365,609 |
1,871,107,496 |
|
Non-Operating expenses |
312,362,356 |
1,053,810,572 |
865,906,984 |
|
Ordinary Income |
512,246,090 |
1,819,928,240 |
2,210,102,435 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
512,246,090 |
1,819,928,240 |
2,210,102,435 |
|
Income Taxes Expenses |
158,399,699 |
425,903,801 |
523,606,434 |
|
Net Income |
353,846,391 |
1,394,024,439 |
1,686,496,001 |
|
Cash Flows |
|||
|
Unit : Thousand Korean Won |
01/01/2007~03/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Cash Flows
from Operating |
521,131,969 |
1,818,459,986 |
1,045,147,831 |
|
-Net Income |
353,846,391 |
1,394,024,439 |
1,686,496,001 |
|
-Exp.
without Cash Outflow |
251,395,628 |
699,717,984 |
712,565,145 |
|
-Revenue
without Cash Inflows |
-263,501,912 |
(-)1,055,601,883 |
(-)1,370,660,825 |
|
-Changes in
Asset/ & Liability |
179,391,862 |
780,319,446 |
16,747,510 |
|
Cash Flows
from Investing |
-319,400,621 |
(-)1,253,062,274 |
(-)517,468,315 |
|
-Cash Inflow
from Investing |
29,400,922 |
2,527,434,202 |
1,043,650,554 |
|
-Cash Outflows
for Investing |
-348,801,543 |
(-)3,780,496,476 |
(-)1,561,118,869 |
|
Cash Flows from Financing |
-391,538,254 |
(-)629,431,866 |
514,306,311 |
|
-Cash Inflows from Financing |
1,952,600,269 |
9,838,055,558 |
7,958,155,884 |
|
-Cash Outflows from Financing |
-2,344,138,523 |
(-)10,467,487,424 |
(-)7,443,849,573 |
|
Increase/Decrease in Cash |
189,806,906 |
(-)64,034,154 |
1,041,985,827 |
|
Cash at the Beginning of Year |
1,312,767,480 |
1,376,801,634 |
334,815,807 |
|
Cash at the End of Year |
1,122,960,574 |
1,312,767,480 |
1,376,801,634 |
Products, Technologies, Services
Description
|
Main
Products & Services |
Energy In the past 40 years, "The Subject
Company" has steadily expanded its oil refining facilities and gas
stations so that "The Subject Company" is now at an all-time high
in the domestic energy sector. More importantly, however, its highest
priority throughout its history has been to deliver significant value and
happiness to The Subject Company's customers in their everyday lives. Chemicals In both living and working spaces,
end-users and diversified companies encounter the name of SK Corporation
daily. From cutting-edge materials for the automobile, electronics, and
communications industries to commodity materials for paints, ballpoint pens,
contact lenses, detergents, and cosmetics, The Subject Company's chemical
products are vast and indispensable and The Subject Company's dedicated
services reach beyond the tangible. Total Service for Drivers The Subject Company's Total Service for
Drivers (TSD) is unlike any other. It provides all-inclusive, real-time
information about vehicle operations, road and traffic conditions, safety
concerns, and locations via wired or wireless and online or offline
communications. The Subject Company's TSD also offers vehicle maintenance and
repair, which enables drivers to go about their business worry-free, whatever
their vehicle or the road conditions they encounter may be. With these
all-new driver services, the driving experience is made easier than ever
before. OK Cashbag Service The Subject Company's OKCashbag Service
hyperlinks online and offline retailers, SK's B2B partners, and other
companies. The Service's subscribers can shop for best buys anytime,
anywhere. With this online/offline mobile shoppers' super hub, shopping is
easy, affordable and value-added due to the bonus points that subscribers
earn with each purchase. The Subject Company's OKCashbag Service is designed
to deliver happiness to customers in their everyday lives. Research & Development The engine that has helped SK Corporation
to grow as a world-class business was its continued investment in R&D. In
addition to possessing first-rate core petrochemical catalysis technologies,
such as in the supreme lube base oil YUBASE and the DPF (diesel particulate
filter) catalyst, the company is actively engaged in the development of
future promising technologies, such as fuel cell, environmental catalyst and
pharmaceutical intermediate, focusing energy, environment and chemical
sector. The company is committed to ushering you into the better future for
humankind through continued R&D, enhanced technological competitiveness
and successful commercialization of new technologies. |
|||||||||
|
Production
Capacity (Unit:
Oil-Thousand Barrel, Chemicals-Thousand Ton) |
|
Organization Structure
|
Customers |
KEPCO Korea Army Suhyup The subject supplies oil for airplanes and
for US Army in Korea. |
|
Competitors |
GS Caltex S-Oil Hyundai Oil SK Incheon |
Related Parties (Subsidiaries,
Joint-
Venture & Affiliates)
|
Joint Venture |
The subject searches and develops oil with
the below companies. EGYPT-PICO ARGENTINA-PLUSPETROL USA-DEVON ENERGY VIETNAM-PETROVIETNAM ITALY-ENI CHINA-PETRO CHINA |
|
Subsidiary |
SK CHINA HOLDING CO., LTD. NINGBO SK BAOYING ASPHALT STORAGE CO., LTD. SK INSURANCE (BERMUDA) LTD. SKC MEDIA CO., LTD. SKC NEW MATERIAL (SUZHOU) CO., LTD. SKC INC., SKC EUROPE GMBH KANGWON CITY GAS.CO.,LTD KUMI CITY GAS CO.,LTD DAEHAN OIL PIPELINE CORPORATION CHONNAM CITY GAS SKN (CHINA) HOLDINGS CO.,LTD, ULAND CO., LTD. SHENYANG SK NETWORKS ENERGY CO., LTD., SK TELECOM USA HOLDING, INC. ZHANGJIAGANG SKOK METAL PRODUCTS CO., LTD.,
SK TELECOM INTERNATIONAL INC. KIWI STEEL N.Z. LTD. SLD TELECOM PTE.LTD. STELLAR SHIPPING CO., LTD SEOUL, INC. IHQ, INC |
|
Cooperative Enterprise |
-USA CHEVRON RESEARCH CO. U.S.A UNOCAL CORP. U.S.A MONSANTO ENVIRO-CHEM TPA MONSANTO ENVIOR-CHEM NOVA CHEM. MITSU CHEM MONTELL UOP INC. U.S.A CHEVRO RESEARCH CO. IFP CELGENE CORPORATION EDELEANU-GERMANY NIPPLON ZEON-JAPAN PATRA NIAGA AXENS HUNT OIL SAMSUNG CORPORATION SK AUSTRALIA PTY. LTD. E'MAX ORTHO-MCNEIL CHRONAR INT'L FINANCE CELEGEN CORPORATION MONSANTO ENVIOR-CHEM CHEVRON RESEARCH CO. |
Domestic Affiliates (Total 60 companies)
SK CHEMICALS CO.,LTD 130111-0005727
SK GAS LTD 110111-0413247
SKC LTD 130111-0001585
DAEHAN CITY GAS LTD 110111-0235617
PUSAN CITY GAS CO.,LTD 180111-0039495
DONGSHIN PHARMACEUTICAL CO.,LTD 110111-0166250
SK E&S CO., LTD. 110111-1632979
DAEHAN OIL PIPELINE CORPORATION 110111-0671522
SK INCHEON OIL CO.,LTD. 110111-0008197
CHONGJU CITY GAS CO.,LTD 150111-0006200
POHANG CITY GAS CO.,LTD 174611-0007531
KUMI CITY GAS CO.,LTD 175311-0001570
CHONNAM CITY GAS 201311-0000503
KANGWON CITY GAS.CO.,LTD 140111-0002010
IKSAN CITY GAS CO.,LTD 214911-0004699
SK NJC CO., LTD. 130111-0046094
DAE HAN CITY GAS ENGINEERING CO.LTD. 110111-0429608
SK CYTEC CO., LTD. 130111-0021658
K-POWER CO.,LTD. 110111-1492240
IKSAN ENERGY CO,LTD 214911-0004136
CHOONG NAM CITY GAS CO., LTD 160111-0007595
SK UTIS CO., LTD. 135811-0113802
SKCTA CORPORATION 110111-3222570
IN2GEN 110111-2024258
SK PETROCHEMICAL 135811-0120906
SK MOBILE ENERGY CO.,LTD. 161511-0076070
SK TELECOM CO.,LTD 110111-0371346
SEOUL RECORDS, INC. 134111-0010706
IHQ, INC 110111-0042393
SK C&C 110111-0769583
SK TELESYS CO.,LTD 110111-1405897
SK COMMUNICATIONS 110111-1700924
SK TELINK, CORP. 110111-1533599
OKCASHBAG SERVICE CO..LTD 110111-1873432
INFOSEC CO.,LTD 110111-2007858
WIDERTHAN CO.,LTD 110111-1998701
INNOACE CO.,LTD 110111-2104026
AIRCROSS CO., LTD. 110111-2121765
ENCAR NETWORKS LTD. 110111-2125270
PAXNET, INC. 110111-1698830
TU MEDIA CORPORATION 110111-2907826
INDEPENDENCE 110111-2010116
SKC MEDIA CO., LTD. 161511-0076377
YTN MEDIA INC 110111-2031477
IFILM CO.,LTD. 110111-2857451
SK I-MEDIA CO.LTD. 110111-3505851
SK NETWORKS COMPANY LIMITED 130111-0005199
SK ENGINEERING & CONSTRUCTION CO., LTD 110111-0038805
SK SHIPPING CO., LTD 110111-0311392
WALKERHILL INC. 110111-0142854
STELLAR SHIPPING CO., LTD 110111-1655822.
MRO KOREA CO.,LTD 110111-2016940
OILCHAIN CORPORATION 110111-2194754
APERON 110111-3001685
SK SECURITIES CO.,LTD 110111-0037112
SK CAPITAL CO., LTD. 110111-1189219
GLOBAL CREDIT & INFORMATION 135311-0003300
SK WYVERNS CO., LTD 120111-0217366
ENTRY SOFT
Overseas Office
SK ENERGY & CHEMICAL, INC. CUSTOM
MANUFACTURING SERVICE
ADDRESS : 22-10 RT. 208, FAIR LAWN, NJ 07410,
USA
TEL : 1-201-796-4288 / FAX : 1-201-796-2278
E-MAIL : SSCHANG@SKCORP.COM
WEBSITE : WWW.SKCMS.COM
SK ENERGY & CHEMICAL, INC.
BIO-PHARMACEUTICAL BUSINESS
ADDRESS : 140A NEW DUTCH LANE, FAIRFIELD, NJ
07004, USA
TEL : 1-973-227-3939 / FAX : 1-973-227-4488
E-MAIL : SSCHANG@SKCORP.COM
WEBSITE : WWW.SKBP.COM
SK USA, INC.
ADDRESS : 400 KELBY STREET 17TH FLOOR, FORT
LEE, NJ 07024, USA
TEL : 1-201-613-8000 FAX : 1-201-613-8040
E-MAIL : SKUSA@SKCORP.COM
SK E&P COMPANY
ADDRESS : 1300 POST OAK BLVD., SUITE 910
HOUSTON, TX 77056 USA
TEL : 1-713-341-5822 / FAX : 1-713-871-1580
E-MAIL : DONGSCHOI@SKCORP.COM
SK CORPORATION SUCURSAL PERUANA
ADDRESS : AV. VICTOR ANDRES BELAUNDE 147 VIA
PRINCIPAL 155, OFFICE 1402, EDIFICIO "REAL TRES" SAN ISIDRO , LIMA 27
PERU
TEL : 51-1- 421-3787 / FAX : 51-1- 421-3783
E-MAIL : SIJONGLIM@SKCORP.COM
SK ENERGY ASIA
ADDRESS :#4 SHENTONWAY, #11-02 SGX CENTRE TWO
SINGAPORE 068807
TEL : 65-6220-1266 / FAX : 65-6221-1225
E-MAIL: JINHUR@SKCORP.COM
SK CORPORATION BEIJING REPRESENTATIVE OFFICE
ADDRESS : 7TH FLOOR , TOWER-B, JIACHENG
BLDG., XIAGUANG-LI NO.18 DONGSANHUANNORTH-ROAD, CHAOYANG DISTRICT, BEIJING
100027, CHINA
TEL : 86-10-5920-5500 / FAX : 86-10-5920-5522
E-MAIL : BEIJING@SKCORP.COM
SK LUBRICANTS (CHINA)CO.,LTD.
ADDRESS : UNIT 413, OFFICE TOWER 2, HENDERSON
CENTER, #18 JIANGUOMEN NEI AVENUE, DONGCHENG DISTRICT, BEIJING 100005 CHINA
TEL : 86-10-6518-5818(EXT. 601) / FAX :
86-10-6518-5817
E-MAIL : SGJEON@SKCORP.COM
SK (CHINA) HOLDING COMPANY LIMITED
ADDRESS : UNIT 801-808B, OFFICE TOWER C-2,
ORIENTAL PLAZA, #1 EAST CHANG AN AVENUE, DONGCHENG DISTRICT, BEIJING 100738,
CHINA
TEL : 86-10-8518-5899 / FAX : 86-10-8518-8980
E-MAIL : BGH@SKCORP.COM
SK (BEIJING) ROAD SCIENCE & TECHNOLOGY
CO., LTD.
ADDRESS : ROOM C-401, NO. 18 XIHUAN SOUTH
ROAD, BEIJING ECONOMY TECHNOLOGY DEVELOPMENT AREA, BEIJING, CHINA 100176
TEL : 86-(10)-5157-0222 (EXT. 801) / FAX :
86-(10)-5157-0221
E-MAIL : KIBYUNG@SKCORP.COM
SK CORPORATION SHANGHAI REPRESENTATIVE OFFICE
ADDRESS : ROOM 3311-3312, MAXDO CENTER, NO.
8, XINGYI ROAD SHANGHAI 200336 CHINA
TEL : 86-(21)-6270-6016 / FAX :
86-(21)-6270-9920, 6278-9582
E-MAIL : YSHONG@SKCORP.COM
SK CORPORATION SK INTERNATIONAL TRADING
(SHANGHAI) CO., LTD.
ADDRESS : ROOM 3311-3312, MAXDO CENTER, NO.
8, XINGYI ROAD SHANGHAI 200336 CHINA
TEL : 86-(21)-5208-0909 / FAX :
86-(21)-5108-0706
E-MAIL : J.H.LEE@SKCORP.COM
SK BIO-PHARM TECH (SHANGHAI) CO., LTD.
ADDRESS : BUILDING3 NO.34 LANE122 CHUNXIAO
ROAD. ZHANGJIANG HIGH-TECH PARK, SHANGHAI 201203 CHINA
TEL : 86-(21)-5080-4990 / FAX :
86-(21)-5080-3483
E-MAIL : LKH@SKCORP.COM
SHANGHAI GAOQIAO-SK SOLVENTS CO. LTD
ADDRESS : 2908 PU DONG DA DAO, SHANGHAI CHINA
200129
TEL : 86-(21)-5034-0702 / FAX :
86-(21)-5034-2547
GUANGDONG SK ADVANCED POLYMER CO., LTD.
ADDRESS : GUANGDONG ZHAOQING HIGH TECHNOLOGY
INDUSTRY DEVELOPMENT ZONE 526238 CHINA
TEL : 86-758-362-5003 / FAX : 86-758-362-5026
E-MAIL : GUANGZHOU@SKCORP.COM
SK CORPORATION GUANGZHOU OFFICE
ADDRESS : ROOM 3902, CITIC PLAZA, NO 233,
TIANHE BEI ROAD, GUANGZHOU, GUANGDONG PROVINCE 510613 CHINA
TEL : 86-(20)-3891-2093 / FAX :
86-(20)-3891-2319
E-MAIL : HOON99@SKCORP.COM
SK CORPORATION TOKYO BRANCH
ADDRESS : YAMATOSEIMEI BLDG. 8F 1-1-7,
UCHISAIWAICHO, CHIYODA-KU, TOKYO 100-0011, JAPAN
TEL : 81-3-3591-0343,3041 / FAX :
81-3-3591-3073
E-MAIL : HBLEE@SKCORP.COM
REPRESENTATIVE OFFICE OF SK CORPORATION IN
KAZAKHSTAN
ADDRESS : NURLY TAU BLOCK-2A, 5 AL-FARABI
AVE, ALMATY, REPUBLIC OF KAZAKHSTAN
TEL: 7-3272-777034 / FAX: 7-3272-777036
E-MAIL : INGOO@SKCORP.COM
SK ENERGY EUROPE LIMITED
ADDRESS : 3RD FLOOR 11-12 HANOVER STREET,
LONDON W1S 1YQ
UNITED KINGDOM
TEL : 44-(0)20-7495-0956 / FAX :
44-(0)20-7495-1052
E-MAIL : EK@SKCORP.COM
SK AUSTRALIA PTY. LTD.
ADDRESS : LEVEL 31, 2 PARK STREET, SYDNEY,
NSW 2000,
AUSTRALIA
TEL :61-2-9261-0862 / FAX : 61-2-9261-1331
E-MAIL : HLEE@SKCORP.COM
SK CORPORATION MIDDEL EAST OFFICE
ADDRESS : LEVEL 10, DUBAI WORLD TRADE CENTRE,
P.O. BOX 9389,
DUBAI, UAE
TEL : 971-4-331-3457 / FAX : 971-4-331-3316
E-MAIL : KBPARK@SKCORP.COM
SK CORPORATION KUWAIT OFFICE
ADDRESS : OFFICE #2829, ARRAYA CENTRE, AL
SHUHADA ST., SHARQ
P.O BOX 29927, SAFAT 13160, KUWAIT
TEL : 965-299-7823 / FAX: 965-299-7822
E-MAIL : JYCHA@SKCORP.COM
Sales by
Region (Activity &
Markets)
|
Sales/ Unit : Thousand KRW |
As of 12/31/2006 |
As of 12/31/2005 |
As of 12/31/2004 |
|
Export |
11,118,505,222 |
10,389,484,090 |
7,866,823,064 |
|
Domestic |
11,798,728,859 |
10,838,850,340 |
8,937,660,153 |
|
Others |
734,268,434 |
686,247,707 |
601,580,005 |
|
Total |
23,651,502,515 |
21,914,582,137 |
17,406,063,222 |
Court
Action
|
Case No. |
Court |
Plaintiff(s)/ Creditor(s)/ Applicant(s) |
Defendant(s)/ Debtor(s)/ Respondent(s) |
Cause |
Amount (KRW) |
Status |
|
|
|
Ministry of Defense |
The Subject & Others(5) |
Claim for damages |
165,900,000,000 |
Proceeding 2nd Round after
defeated at 1st round |
|
|
|
The Subject |
KNOC |
Cancellation on repayment |
18,800,000,000 |
Proceeding |
|
|
|
The Subject |
Fair Trade Commission |
Cancellation on the imposed penalty |
3,800,000,000 |
Proceeding |
News
Clipping
Search for uranium leads group to site in
Canada
JoongangIlbo & Joins.com:10/12/2007
A Korean consortium led by the state-run
electric power monopoly signed an agreement yesterday to jointly explore and
develop a uranium deposit in Canada.
The deal between Korea Electric Power
Corporation, Korea Resources Corporation, SK Energy Company, Hanwha and
Canada’s CanAlaska Uranium calls for 16 billion won ($17.4 million) to be
invested in the next four years to determine the size of the Cree-East deposit.
Once the exploration phase is over, the four
Korean companies will take over a 50-percent stake in Cree-East.
The deposit covers 559.35 square kilometers,
roughly the size of Seoul, and is located in the southeastern part of the
Athabasca Basin.
Korea imports about 4,000 tons of uranium
each year to power its 19 nuclear reactors, but uranium prices have been going
up steadily.
A pound of uranium cost $136 on the
international market this month, up sharply from an average of $75 in 2002.
There have been concerns that a sharp rise
in demand by the newly emerging markets of China and India could cause further
price hikes down the road.
In addition, some experts said existing
uranium deposits will dry up around 2016, making it imperative to develop new
mines.
Yonhap
- Copyrights : JoongangIlbo & Joins.com, All rights reserved. -
Holding company becomes reality for SK
JoongangIlbo & Joins.com:07/03/2007
SK Group, the nation’s No.3 conglomerate, split into an operating
company and a holding company yesterday as part its efforts to reorganize.
The newly established oil-related operating firm is named SK Energy Co.,
while a non-operating holding company that will remain as a legal entity is SK
Holdings Co.
The group yesterday held a board meeting to appoint current chairman
Chey Tae-won and president Park Young-ho as chief executives of SK Holdings.
Chey and chief executive of SK Corp., the previous energy unit, Shin
Heon-cheol, became chief executives of SK Energy.
“I think adoption of a holding company structure will bring us a new
challenge,” Chey told employees.
“The holding company will continue investing in sectors with potential
growth and push for building a global business portfolio.”During the day,
Moody’s Investors Service assigned a Baa2 long-term rating and stable outlook
to SK Energy and withdrew its Baa3 rating of SK Corp.
The nation’s No.1 refiner was spun off into SK Energy when the holding
system began.
“Moody’s believes the new structure provides greater transparency and
substantially reduces the complexity that existed under the former structure,”
Moody’s Senior Vice President Terry Fanous said in a statement.
By Seo Ji-eun Staff Writer [spring@joongang.co.kr]
- Copyrights : JoongangIlbo & Joins.com,
All rights reserved. –
SEOUL, July 2, 2007 – SK Holdings and SK Energy today held their first
Board of Directors meetings following the structural reorganization of SK
Corporation, which has been split into a holding company and an energy
operating company as of July 1.
The new Boards of SK Holdings and SK Energy approved the appointment of
the chief executive officers. Mr. Chey Tae Won was approved as Chairman and CEO
of SK Holdings; and Mr. Park Young-Ho was appointed President and CEO of this
entity. Mr. Chey was also approved as Chairman and CEO of SK Energy; and Mr.
Shin Heon-Cheol was appointed as President and CEO of this operating unit.
“We have two very strong reasons for the reorganization,” explained Chey
at a ceremony celebrating the launch. “First, SK is committed to continued
improvement in corporate governance and transparency. Second, SK is determined
to deliver increasing value to shareholders.”
Chey added:“We believe the reorganization is a positive change and
milestone in SK’s half-century history. We also believe the restructuring will
offer a host of significant opportunities
in the half-century to come.”
The two new entities will be listed
separately on the Korea Stock Exchange. With the split-off effective July 1, SK Holdings and SK Energy will begin
trading separately on July 25. Trading has been suspended for SK Corp.’s
existing shares since the closing of the Korea Stock Exchange on June 27.
SEOUL, April 11, 2007 – SK Corporation announced today that it will seek
a holding company structure. The
company’s Board of Directors has approved the proposal to split SK Corp. into a
holding company, expected to be named SK Holdings Co., Ltd, and an operating
company, tentatively named SK Energy-chemical Co., Ltd. Each company will be
listed separately on the Korea Stock Exchange.
The new structure will reinforce the company’s already advanced
corporate governance and enable subsidiaries to fully concentrate on core
businesses to promote shareholder value.
Cross shareholdings and joint investments by operating units in
affiliated companies will be eliminated.
“Once we are reorganized, the holding company will become an investment
company and under independent management operating subsidiaries will concentrate
solely on their core business fields,” said Shin Heon-Cheol, SK Corp.’s
President and CEO.
Mr. Shin continued to say that, “This is in a proactive response to the
constructive suggestions made by a majority of the shareholders to separate the
non-business related investment assets from the core business unit, via a
holding company structure. It is also
in line with government’s policy which has been promoting a holding company
structure for Korean companies.” In
March, SK Corp.’s newly assembled Board of Directors started to examine the
matter in depth, leading to the decision announced today
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)