SK Group merges multiple group companies to create large energy company (South Korea)

SK Innovation, which handles oil former sales, etc., has merged with SK E&S, which handles the energy business, and its subsidiary, SK On, which is a major battery manufacturer, to import crude oil and export petroleum products.
SK On and SK Energy, which sells crude oil, announced that they have completed the process of merging. On February 1, 2025, SK On and SK Energy, which sells crude oil, will acquire the tank terminal division of SK Energy.
The merger with the split-off SK Enter is also planned. The new company will be called SK Innovation E&S.
After the merger, E&S will operate as an independent company within the company.
With the addition of E&S's LNG value chain, the company will be reborn as a company with a portfolio that covers all major energy businesses, including oil, gas and electricity.
In particular, LNG generates 1 trillion won (US$1.1 billion) in operating profits for SK E&S annually, and is expected to provide stable profits and investment resources for the merged company.
Meanwhile, SK On's new company will be called SK On Trading International. Prior to this, the company had launched an integration synergy promotion committee after announcing the merger in July.
It has selected four areas where it can achieve immediate results - the LNG value chain, trading, hydrogen, and renewable energy - and has begun commercializing them.