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July 18 |Chairman Chey Tae-won, lecturing in the KCCI Jeju Forum

Chairman Chey Tae-won delivered a speech in the 44th Jeju Forum of the Korea Chamber of Commerce & Industry (KCCI) on July 18. Through the speech entitled ‘Corporate Breakthrough Strategy & Social Value Creation’, Chairman Chey emphasized, “We are now in an era where economic values cannot be the single focus of corporate management,” adding, “We need to deliver both economic and social values to earn customers’ trust.” He also stated, “Business organizations that fail to send a signal of social risk mitigation to customers will be shunned by consumers,” and encouraged the audience by saying, “We all can be first movers if we start right now.”

July 8 |SKC, the First in Korea to join the AEPW

The Alliance to End Plastic Waste (AEPW) held a board meeting on July 8 in local time in New York, USA and approved SKC’s entry. SKC became the first in Korea and the fourth in Asia to join AEPW, championed by global business enterprises engaged in plastic manufacturing, use, distribution, processing, collection and recycling such as BASF, Dow Chemical, P&G, PepsiCo, etc. SKC has spearheaded eco-friendly material development initiatives since 2009 when the company developed the world’s first eco-friendly biodegradable film. SKC will launch joint projects together with global business organizations and deliver more social values. At the same time, SKC will bolster up collaboration with other SK affiliates in joint projects in line with the group-wide strategy to deal with plastic waste issues.

July 17 |SK telecom, launching the world's first 5G roaming service

Joining hands with Swisscom, No.1 mobile telecom carrier in Switzerland, SK telecom launched the world’s first 5G roaming service on July 17, at 00:00 in Korean standard time. Swisscom is the biggest telecom carrier in Switzerland with approximately 6 million subscribers; having launched the first LTE roaming service in Europe together with SK telecom in July, 2013. Swisscom launched 5G services across Switzerland on April, 17 this year, covering 110 cities including major tourist destinations such as Zurich, Geneva, Bern, etc. Launching 5G roaming service earlier than any other competitors in the world after having initiated the world’s first LTE roaming service in June, 2012 and launched the first 5G service in the world in this April, SK telecom has solidified its presence as the global 5G service leader.

July 18 |SK innovation’s mangrove planting initiative named one of 'BNBP' best practices

SK innovation’s mangrove planting initiative was named one of the best practices of the Biz N Biodiversity Platform (BNBP). Mangrove is an indigenous plant found in the tidal flats or seashores of tropical and subtropical regions, absorbing 5 times more carbon dioxide than ordinary tropical forests thus helping to prevent global warming. Aware of the significance of mangrove in last May, SK innovation signed an MOU with the Vietnamese government, the United Nations Environment Programme (UNEP), and SNP which is the No.1 logistics service provider in Vietnam to launch a ‘mangrove forest restoration initiative’, planting over 50,000 mangrove seedlings across Vietnam. As the BNBP secretariat collaborates with a variety of countries and regions through global partnership programs, the best practice of SK innovation is expected to be shared with many different countries.

July 18 |SK energy and SK trading international acquires stake in the No.2 oil distributor in Myanmar

SK energy and SK trading international, petro-business subsidiaries of SK innovation, concluded a deal on July 18 to acquire equities of BOC (Best Oil Company), the 2nd-biggest oil distribution group in Myanmar. The contract signing ceremony held at Lotte Hotel in Yangon, Myanmar was attended by over 500 distinguished guests including CEO Cho Kyung-mok of SK energy, CEO Suh Sok-won of SK trading international, Chairman Aung Shwe and President Win Swe of BOC, etc. BOC is a holding company engaged in oil distribution business, with a 17% oil market share in Myanmar. The conclusion of the contract will allow SK to acquire 35% of the stake in BOC at the price of approximately 150 billion won, with SK energy and SK trading international holding 17.5% respectively.

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