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Energy Minerals

SK Innovation Co., Ltd.

Company Background

SK Innovation is a leading oil and chemical company in South Korea, and a core business of the SK group, the country's third-largest conglomerate. It deals with a wide range of businesses, from petroleum development to batteries and information electronics materials. It has also extended its efforts to the development of nonconventional energy resources, such as shale-derived resources.

The company's origins date back to the establishment of Korea Oil, the country's first oil refining company, in 1962. In addition to the business of its own, SK Innovation has widened its business through its subsidiaries. These include: SK Energy for oil refinery and wholesale; SK Lubricants for production of lubricating oil for leading automakers worldwide, including BMW of Germany; and SK Global Chemical for chemical products.

The company is engaged in a large-scale project in the U.S. state of Oklahoma, where it has acquired a stake in an oil producing field. As the first attempt ever among South Korean businesses, the company is preparing to produce oil and gas from the field's shale layers. The company expects the production of shale-derived energy to eventually reach about 15% of total capacity in the field.

The company is also actively involved in new businesses. It has signed with Chinese businesses, including a leading automaker, to form a joint venture in China to produce battery packs for electric vehicles, with a capacity target of 20,000 units by 2017.

In addition, SK Global Chemical has agreed with Saudi Basic Industries to launch a joint effort to produce and market Nexlene, a high-performance polyethylene originally developed using SK's own technology.

Business Summary

SK Innovation Co., Ltd. engages in the development and production of petroleum products. It operates through the Petroleum Development and Battery Businesses. The Battery business provides cell, module, pack, and battery management system. The company was founded on July 3, 2007 and is headquartered in Seoul, South Korea.

Financial Highlights

Dec 2022 KRWUSD
Gross Profit6,710.55B5,193.51M
Operating income3,917.34B3,031.75M
Income before tax2,857.90B2,211.82M
Net income1,569.02B1,214.31M
Diluted EPS18,251.8914.12
Dividends Per Share----
Total Assets67,218.92B53,158.49M
Total liabilities43,976.61B34,777.86M
Total equity19,651.62B15,541.02M
Operating cash flow374,419.02M289.77M
Currency in KRWCurrency in USD

Historical Data

 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 54,216.52B 49,306.93B 34,549.94B 46,853.41B 78,056.93B
Gross Profit 3,903.87B 2,962.99B -327,570.28M 4,181.29B 6,710.55B
Operating income 2,103.16B 1,113.64B -2,420.28B 1,741.67B 3,917.34B
Income before tax 2,237.35B 443,257.63M -2,730.76B 381,676.71M 2,857.90B
Net income 1,638.07B 143,410.34M -2,186.28B 248,343.09M 1,569.02B
EBITDA 3,029.78B 2,321.91B -1,053.33B 3,255.41B 5,710.49B
Diluted EPS -- -382.15 -24,267.63 3,328.82 18,251.89
Dividends Per Share 7,545.70 2,829.63 0 0 --
Total Assets 35,853.38B 39,534.50B 38,498.14B 49,544.94B 67,218.92B
Total liabilities 16,679.12B 21,321.28B 23,039.68B 29,924.24B 43,976.61B
Total equity 18,122.63B 17,468.08B 14,539.97B 17,310.85B 19,651.62B
Operating cash flow 1,751.33B 1,660.47B 2,847.20B -539,906.89M 374,419.02M
 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 49,264.54M 42,280.57M 29,282.39M 40,914.32M 60,410.83M
Gross Profit 3,547.30M 2,540.76M -277.62M 3,651.27M 5,193.51M
Operating income 1,911.06M 954.94M -2,051.28M 1,520.89M 3,031.75M
Income before tax 2,033.00M 380.09M -2,314.42M 333.29M 2,211.82M
Net income 1,488.45M 122.97M -1,852.95M 216.86M 1,214.31M
EBITDA 2,753.04M 1,991.03M -892.74M 2,842.76M 4,419.54M
Diluted EPS -- -0.32 -20.56 2.90 14.12
Dividends Per Share 6.85 2.42 0 0 --
Total Assets 32,132.44M 34,186.08M 35,439.69M 41,678.18M 53,158.49M
Total liabilities 14,948.13M 18,436.83M 21,209.31M 25,172.86M 34,777.86M
Total equity 16,241.83M 15,104.91M 13,384.86M 14,562.23M 15,541.02M
Operating cash flow 1,591.37M 1,423.85M 2,413.11M -471.46M 289.77M

Valuation Measures

Dec 2022
Operating margin5.01%
Profit margin2.01%


  • President, Chief Executive Officer & Director: Jun Kim
  • Chief Financial Officer: Yang-Seob Kim
  • Head-Research & Development: Il-Soo Kim
  • Head-Compliance Support: Byung-Rae Lee
  • Chairman-Executive Board: Tae-Won Choi


  • SK, Inc. (35.4%)
  • National Pension Service of Korea (7.7%)
  • SK Innovation Co., Ltd. (5.5%)
  • The Vanguard Group, Inc. (1.8%)
  • Samsung Asset Management Co., Ltd. (1.4%)
  • BlackRock Fund Advisors (1.2%)
  • Norges Bank Investment Management (1.1%)
  • ENEOS Holdings, Inc. (0.9%)
  • Mirae Asset Global Investments Co., Ltd. (0.8%)
  • Dimensional Fund Advisors LP (0.8%)

Contact Details

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Last Updated on 26 Sep, 2023

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