SK Innovation : Kim Cheol-jung, CEO of SKIET, says "New orders secure a foundation for mid-to-long term growth"

■ SKIET held its 5^th Annual General Meeting of Shareholders on the 26^th at the SK Seorin Building in Jongno-gu, Seoul, South Korea

■ Kim emphasized "diversifying customer portfolio in the North American market, optimizing separator properties, and enhancing productivity"

■ Following last year's general meeting, a shareholder meeting was held to strength communication

"Winning orders is management's top priority."

CEO Kim Cheol-jung of SK IE Technology (SKIET), a material business subsidiary of SK Innovation, emphasized during the 5^th Annual General Meeting of Shareholders on the morning of the 26^th at SK Seorin Building in Jongno-gu, Seoul, South Korea, that "We will focus our entire capabilities on the additional expansion of consumer portfolio to lay the groundwork for mid-to-long term growth."

CEO Kim stated, "Despite the growing uncertainty in the global business landscape this year, SKIET will focus on solidifying its position in the global separator market by enhancing its fundamental business competitiveness."

As the global electric vehicle (EV) industry has grown fast in recent years, the demands of battery-related companies have become increasingly complex. Therefore, customizing separator properties with their uniformity and strength to match the chemical characteristics of materials, including various battery cell form factors and silicon anodes, has become more important.

Expanding on this idea, CEO Kim declared, "With our unparalleled technological competitiveness, SKIET intends to develop optimized separators that meet the diverse needs of our customers and supply them to the global market." He added, "This year, we will also focus more on reducing fixed costs and enhancing cost competitiveness through innovation in productivity, aiming to improve profitability."

The addition of Chinese companies to the Foreign Entity of Concern (FEOC) list, as per the detailed guidelines of the Inflation Reduction Act (IRA) announced by the US Treasury Department last December, can be seen as a potential opportunity for SKIET.

CEO Kim stated, "With Chinese enterprises essentially unable to receive IRA subsidies, the supply chain for battery materials is diversifying towards non-Chinese companies." He emphasized, "We will quickly finalize our decisions and move to secure profitability in the high-growth potential North American market," emphasizing the company's plan to enter the North American market.

At the shareholders' meeting, the agenda items were presented and passed as originally proposed. These included the approval of the 5^th financial statements, the appointment of candidate Ryu Jin-suk as a non-executive director, and the approval of the ceiling for directors' remuneration. As in the last year, SKIET held a shareholder gathering immediately after the general meeting, during which IR provided a direct overview of the company's business plans and engaged in a Q&A session with shareholders.

[Photos]

(Photo 1,2) Kim Cheol-jung, CEO of SKIET, is presiding The 5^th SK IE Technology Annual General Meeting of Shareholders on March 26^th at SUPEX Hall in SK Seorin Building in Jongno-gu, Seoul.

■ Related articles
- SK IE Technology holds The 4^th Annual General Meeting of Shareholders, appointing President Kim Cheol-jung as new CEO