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SK TBMGeostone joins hands with Samhwa Paints-P&B to develop eco-friendly containers
● Signing a tripartite MoU on the 22nd ··· aspiring to release biodegradable LIMEX paint containers in Q1● Replacing dozens of thousand tons of plastic containers a year with eco-friendly alternatives··· eco-friendly biodegradable materials to support a variety of applicationsSK TBM Geostone, SKC (CEO: Woncheol Park)’s biodegradable material-producing investee, joins hands with Samhwa Paints to market eco-friendly paint containers.SK TBM Geostone, Samhwa Paints, and container manufacturer P&B signed a memorandum of understanding on the development of biodegradable eco-friendly paint containers at SKC head office in Jongro-gu, Seoul on the 22nd. The signing ceremony was attended by leading figures of the parties involved in the MoU including CEO Jihyeon Yang of SK TMB Geostone, CEO Kiboong Ryu of Samhwa Paints and CEO Yeonki Hwang of P&B.The purpose of the MoU is to allow the three parties to actively cooperate in ▲designing and distributing eco-friendly paint containers, ▲developing and sourcing eco-friendly ingredients optimized to container design, and ▲developing and manufacturing paint containers.Samhwa Paints plans to adopt paint containers manufactured by P&B out of SK TBM Geostone’s eco-friendly biodegradable LIMEX material in Q1 of this year. SK TBM Geostone has developed LIMEX based on biodegradable PBAT ((Polybutylene Adipate Terephthalate) and natural limestone to deliver durability, workability and sealing performance comparable to conventional containers.The Korean paint market is valued at around 4 trillion won. Conventional plastic containers are lightweight and easy to use, but they do not decompose when buried or incinerated, triggering pollution with plastic particulates. In contrast, biodegradable LIMEX containers not only uses eco-friendly ingredients but also decompose more than 90% back to nature in six months when placed under the right composting conditions.SKC founded SK TBM Geostone in a joint venture with TBM of Japan that has LIMEX technology back in 2021 to commercialize biodegradable LIMEX solutions. SKC is also seeking to commercialize high-strength PBAT, a proprietary material developed by its investee Ecovance. Targeting 2025 as the starting year of operation, SKC is building the world’s biggest PBAT production plant to produce 70,000 tons a year and a LIMEX production facility to deliver 36,000 tons a year in Haiphong City, Vietnam. “The collaboration among Samhwa Paints and P&B known for their remarkable competitiveness in paint and container markets and SK TBM Geostone that possess proprietary biodegradable material solutions will produce strong synergy,” said CEO Yang Ji-hyeon of SK TBM Geostone. “We will further diversify the applications of biodegradable materials to enhance our biodegradable material business lineup.” [End][SK TBM Geostone, Samhwa Paints and P&B sign a MoU on the development of biodegradable eco-friendly paint container at SKC head office in Jongro-gu, Seoul on the 22nd. CEO Jihyeon Yang of SK TBM Geostone, CEO Kiboong Ryu of Samhwa Paints and CEO Yeonki Hwang of P&B (from the left) are showing signed copies of the MoU.] [SK TBM Geostone’s eco-friendly paint containers made of biodegradable LIMEX solution]
2024-01-23
SKC Showcases Eco-friendly Materials Technology at the Theme Park Exhibition Space ‘SK Wonderland.’
● SKC introduces its flagship products of EV batteries, semiconductors, and eco-friendly materials in the exhibition space jointly operated by SK Group’s seven affiliates.● Participating in CES for five consecutive years since 2019, SKC continues introducing its innovative business model direction to the global market.SKC (CEO & President Woncheol Park) will showcase its materials technologies covering EV batteries, semiconductors, and eco-friendly sectors at CES (Consumer Electronics Show) 2024, the world’s largest industrial exhibition, held in Las Vegas, USA from January 9 to 12 next month (local time). At CES 2024, SKC will introduce its flagship products and technologies throughout SK Wonderland, an exhibition space jointly operated by SK Group’s seven affiliates. SK Wonderland is designed in a theme park format, allowing visitors to experience happiness in the ‘Net Zero’ world, where the climate crisis has been resolved.SKC’s products and technologies can be explored when visitors enter the exhibition. The guide map distributed when entering SK Wonderland is not made from regular paper. It is made of SKC’s biodegradable LIMEX, an eco-friendly new material combining the biodegradable plastic material PBAT with limestone-based LIMEX, which is harmless to nature. SKC has been working to commercialize biodegradable LIMEX materials since establishing a joint venture called SK TBMGEOSTONE in 2021, jointly with TBM, a Japanese company that owns LIMEX technology.In the Dancing Car zone, SK Group’s eco-friendly EV technologies are introduced as automobiles hanging from robot arms move like dancers in front of the screen. This is where copper foil, a key material for EV batteries, and silicon anodes that can significantly reduce EV charging time are presented. SKC has initiated the global expansion of its copper foil business with the first shipment from SK Nexilis’ new production facility in Kota Kinabalu, Malaysia, in October this year. It will further commence pilot production of high-quality silicon anodes early next year.In addition, visitors can obtain information on semiconductor glass substrates for high-performance computing in the AI Fortune Teller zone. Glass substrates, which improve the performance of semiconductor packages, are again featured at CES 2024 as a solution to speed up AI servers processing large-scale data.SKC has participated in CES for five consecutive years since 2019 (CES 2021 was not held), introducing new technologies and its direction of business model innovations to the global market. While the company focused on its film business in 2019, the first year of participation, the exhibition content has evolved in line with the direction of business model innovations, such as copper foil, glass substrates, and biodegradable materials.An SKC executive said, “We plan to showcase ESG materials solutions in EV materials, semiconductors, and eco-friendly sectors through SK Wonderland, which will become a landmark of CES 2024,” and added, “SKC will continue to develop technologies to enhance added values and discover new businesses.” [End][CES 2024 SK Wonderland Guide Map made with SKC’s biodegradable LIMEX]
2023-12-27
SKC unveils future technology blueprints for EV batteries, semiconductors, and eco-friendly materials
● SKC Tech Day 2023 was held on November 9 at SKC headquarters in Jongno-gu, Seoul.… Sharing technological roadmaps for core and new businesses● Showcasing super gap technologies, including future EV battery anode current collectors, rubber sockets for semiconductor testing, and biodegradable nonwovens● Highlighting competitive patent assets for each business… 230 copper foil patents, the largest patent network in the industry.SKC (CEO & President Woncheol Park) held SKC Tech Day 2023 on November 9 at its headquarters in Jongno-gu, Seoul, and unveiled technology blueprints for core and new businesses. SKC Tech Day is an event where SKC shares its research and development status and technology roadmaps with the market.SKC introduced various new technologies at SKC Tech Day 2023, including silicon anode materials, semiconductor glass substrates, and eco-friendly biodegradable materials together with copper foil for EV batteries, which has become SKC’s core business. Additionally, SKC’s recently acquired ISC debuted its semiconductor test solution technology at Tech Day.Regarding the EV battery materials business, where SKC has the top global competitiveness in technology, the company shared the achievements in developing copper foil for the 4680 cylindrical battery and R&D directions for anode collectors to be used in future EV batteries, such as all-solid-state batteries. Jung-kyu Ahn, Chief of SK nexilis Materials Technology Development Center, explained, “We are developing customer solutions having properties required by future EV battery anode current collectors, such as high strength, high elongation, high heat resistance, and corrosion inhibition.”The current status of patent assets related to copper foil was also shared at Tech Day. As of March of this year, SK nexilis had the most extensive patent network in the industry, with 230 applications. Cooper foil requires advanced manufacturing technology in that it significantly influences the productivity of EV battery manufacturers, not to mention the performance of EV batteries. SK nexilis produces top-quality copper foil based on technology accumulated through continuous research and development.Next came the introduction of silicon anode materials' technological competitiveness, which is considered a critical future element to feed on in the EV battery materials field along with copper foil. This year, SKC established a subsidiary, Ultimus, and plans to start pilot production in January next year by utilizing technology of UK-based tech company Nexeon, of which SKC became the largest shareholder through equity investment in January last year.In the semiconductor materials/components sector, glass substrates for high-performance computing and ISC’s semiconductor test solution technology were showcased. Absolics Inc., an invested subsidiary of SKC in the copper foil business, will complete the world’s first mass production facility at the end of this year. SKC also shared the company’s preparation for smart factory-based mass production, patent application status, and where the company is headed for next-generation product development, including AI Learning Accelerator with the expanded application of element embedding technology.ISC, which newly became a subsidiary of SKC this year, highlighted its excellent competitiveness in the market for rubber sockets, a key component for semiconductor testing. ISC succeeded in mass-producing rubber sockets for the first time in the world in 2003. It is considered to have secured a technological gap of more than ten years compared to latecomer competitors. Like SK nexilis, ISC has built the largest patent network in the industry, with 578 patents related to test sockets. ISC’s clients include over 300 global companies, including memory/non-memory semiconductor makers, fabless semiconductor companies, and big techs with large-scale servers.SKC also shared information on the eco-friendly biodegradable materials business, the company’s third growth engine, along with EV battery materials and semiconductor materials/components, introducing technological competence and commercialization efforts in progress for high-strength PBAT and biodegradable LIMEX materials. It was particularly underlined that 100% PBAT non-woven fabric, the first of its kind in the world developed by SKC, can potentially expand the market into hygiene products, wet wipes, and more, for which biodegradable materials have not previously been used. An SKC executive stated, “Based on the original technology secured through decades of continuous research and development, we are growing into a company with a technological moat that no other player can easily overcome,” and added, “We will actively also continue to communicate SKC’s technology roadmaps for the future market.” [End]
2023-11-09
SKC cranks up on new growth engines
● Q3 earnings release published on the 31st··· KRW 550.6B in sales & 44.7B in operating loss● Decided to sell off SK Pucore·fine ceramics business and cranked up on its business model (BM) innovation, acquiring ISC and investing in Chipletz● Securing investment funding resources of 900 billion won in the second half in combination with over 1 trillion won in cash to prepare for new growth shored up by financial stability ● Rated A+ by the KCGS··· enhancing ESG business practices in the midst of a business overhaulSKC (CEO: Woncheol Park) announced Q3 sales of 550.6 billion won and operating loss of 44.7 billion won on the 31st. In spite of declining revenue due to the worsening business landscape both at home and abroad, SKC is cranking up on business model innovation and a new growth platform, selling off non-core businesses, acquiring ISC, launching silicon anode on a commercial scale, and building a semiconductor glass substrate plant.Witnessed by management leaders like CEO Lim Eui-jun of SK PIC Global, CEO Lee Jae-hong of SK Nexilis, CEO Choi Du-hwan of SK Pucore who also serves as CFO of SKC, CEO Kim Jong-woo of SK Enpulse, Director Shin Jeong-hwan of the Business Development Division at SKC, and CEO Oh Joon-rok of Absolics, SKC announced its Q3 earnings release as described above at its head office in Jongro-gu. Closing the sale of its film business known to be the mother of all SKC businesses last year, SKC is putting business innovation in higher gear this year. In the second half alone, SKC finalized the sales of SK Pucore producing raw materials for polyurethane, its fine ceramics business and chip washing operations one after another, securing investment funding resources close to 1 trillion won.At the same time, SKC is taking a series of steps in preparation for new growth. SKC’s EV battery material business added new mid to long-term copper foil supply contracts in the fourth quarter and commissioned a highly cost-competitive copper foil plant in Malaysia in a bid to significantly boost profitability. In addition, the completion of a pilot silicon anode line will wrap up preparation for further expansion of its EV battery material business.SKC’s semiconductor business has gone through the most drastic change this year. After selling its fine ceramics, chip washing and wet chemical operations one after another, SKC took onboard ISC, a chip test solution provider, as a new mainstay subsidiary. SKC will also complete a semiconductor glass substrate plant by yearend. SKC also made a strategic investment in Chipletz, a US chip packaging solution provider, this September to enhance global competence of its semiconductor downstream operations. SKC will also win more customers for high-value pre-process products such as CMP pad and blank mask to name a few.SKC has also established Haiphong City, Vietnam as the global production base of its eco-friendly biodegradable materials, accelerating their commercialization drive. Furthermore, SKC has invested in Halio, a smart glass manufacturer, to expand its reach to energy-saving solutions.SKC also continues to foster ESG management practices. SKC was rated A+, the highest level ever given to companies covered in the annual ESG assessment conducted by the Korea Institute of Corporate Governance and Sustainability (KCGS). Rated A for two consecutive years from 2021 to 2022, SKC has been persistent in fostering ESG management, even in the midst of continuous business overhaul focused on EV battery, semiconductor and eco-friendly materials. SKC was also uprated by the MSCI from BBB of last year to A this August.“We are restructuring our businesses rapidly to fund stable growth going forward,” CFO Choi Du-hwan of SKC said. “Drawing upon stable growth, we will diversify our revenue models and pave way for high growth by stockpiling proprietary technology.”l SKC Earnings by Quarter (In: 1 won)
l SKC Preliminary Earnings in Q3 by Business
Unit (In: 1 won)
2023-10-31
SKC assigns fine ceramics business to Hahn & Company
● Signing a business assignment deal with PEF manager Hahn & Company··· at 360BN won● SKC cranking up a business overhaul, focused on semiconductors, proprietary high-value materials and componentsSKC (CEO: CEO: Woncheol Park) assigned the fine ceramics business of its chip material-producing subsidiary SK Enpulse to Hahn & Company, a top-tier private equity fund (PEF) managers in Korea.SK Enpulse announced on the 31st that the company convened a board meeting on the 30th where they resolved to assign its fine ceramics business to Hahn & Company for 360 billion won. After the board meeting, the two companies signed a business assignment agreement to that effect. SK Enpulse is expected to undergo necessary procedural steps including an extraordinary shareholders’ meeting next month and close the deal next January.Fine ceramics refer to materials based on highly pure inorganic compounds and processed to feature better electrical properties and durability than conventional ceramic materials. SK Enpulse supplies in the market parts based on well-known fine ceramics including alumina (Al2O3), silicon (Si), silicon carbide (SiC), and quartz which are required for a variety of semiconductor and display manufacturing processes. In so doing, SK Enpulse has contributed to raising the ratio of homegrown chip materials and components in the market. Hahn & Company that will acquire the fine ceramics business from SK Enpulse is the biggest PEF investment manager in Korea. Since its incorporation in 2010, Hahn & Company has acquired over 30 promising Korean companies and prospected for new growth engines, adopting the first-ever bolt-on strategy in Korea to improve their business fundamentals and ramp up market capitalization. Hahn & Company is expected to shore up global competitiveness of the fine ceramics business by ensuring employees’ job security and making additional investments after the assignment.SKC is accelerating the overhaul of its semiconductor business with focus on new high-value items, selling the basic chipmaking material business of SK Enpulse including wet chemical and washing operations, purchasing equity in the U.S. chip packaging solution provider Chipletz, and acquiring semiconductor test solution company ISC. Furthermore, SKC vows to further enhance its business competitiveness by seeking to commercialize the world’s first semiconductor glass substrate for high-performance computing applications and identify additional M&A opportunities.“SKC will use the sale proceeds of the fine ceramics business as funding resource to push the competitive edge of the chip material and component business to a new height,” said an official at SKC. “We will build solutions on our proprietary technologies and become a game changer in the global chip material and component market.” [End]
2023-10-31
SKC is assigned with Integrated A+ ESG rating by the KCGS
● Up by one notch from the previous year’s A rating and included in the top 1.8% out of 1049 listed companies rated by the KCGS ● Higher trustability recognized for disclosure of detailed environmental performance targets, mutual prosperity with local communities and enhanced expertise embedded in the boardSKC (CEO: Woncheol Park) announced on the 27th that the Company won integrated A+, one notch up from last year, in the 2023 ESG Ratings’ published by the Korea Institute of Corporate Governance and Sustainability) (KCGS). The KCGS annually rates companies listed in Korea on a scale of seven steps from S to A+, A, B+, B, C, and D by evaluating their managerial practices comprehensively in terms of environment, society and governance. The KCGS ESG ratings evaluation covered 1049 listed companies this year and only 19 out of them, including SKC, were honored with A+ this year, accounting for the top 1.8%. S rating has never been assigned to any company so far.The honor of winning such a remarkable rating is the result of SKC’s persistent efforts to forge ahead with innovations in environment, society and governance categories while innovating business models at a breathless pace under its vision of ‘Global ESG Material Solution Provider.’ Winning the most prestigious rating, SKC has entrenched solid ESG leadership in its industry, earning greater trust from investors.In terms of specific rating categories, SKC was rated A+, two notches up from last year, in the environment category and A+ and A in the society and the governance categories respectively, at the same level as the previous year. SKC enhanced its trustability, disclosing its environmental targets and achievements in detail in terms of GHG (greenhouse gas) net zero and plastic net zero domains. Furthermore, the Company is bolstering up eco-friendly management practices, as its subsidiary SK PIC Global obtained the ZWTL (Zero Waste to Landfill) certification last year in addition to SK Nexilis in 2021. SKC is also putting spurs to business initiatives to ensure mutual prosperity with various stakeholders, upgrading safety and environmental protection infrastructure with local communities where its production plants are based and developing/fulfilling human rights management goals to better respect the human rights of its employees.Having announced commitment to corporate governance innovation beyond prevailing global expectations in 2021, SKC has endeavored to foster the independence of and diversity in its board of directors, appointing a board chairman out of independent directors, bringing more female directors on board and adopting the board skills matrix (BSM) to name a few. Moreover, SKC enhanced the professionalism and independence of its board of directors by evaluating the performance of the board in a manner transparently disclosed and deploying rigorous corporate ethics programs, which enabled the Company to obtain the ISO 37001 certification in this March to demonstrate compliance with the international standards for anti-corruption management system.“The KCGS A+ rating is the credit given to SKC for our perseverance in promoting sustainability management,” said Choi Kap-ryong, Head of SKC's ESG Promotion Division. “We will continue to ensure transparency in ESG management initiatives and foster ESG-based business model innovation, empowering corporate growth with trust from stakeholders.” [End]
2023-10-27
SKC sells polyurethane ingredient business for 410.3B won
● Selling 100% stake in SK Pucore to Glenwood Private Equity, an alternative investment firm, on the 12th● Securing resources to fund additional investments ···accelerating a business model innovation drive with focus on EV battery/chips/eco-friendly materialsSKC (CEO & President Woncheol Park) is selling its polyurethane (PU) ingredient business. This decision will allow SKC to further accelerate its business model innovation drive focused on EV battery, chips, and eco-friendly materials.SKC decided in a board of directors (BoD) meeting on the 12th to sell 100% stake in SK PUCore to Glenwood Private Equity (Glenwood PE) for 410.3 billion won. The business up for sale also includes the polyurethane ingredient business for optical applications that SKC acquired from Woori Finechem in 2019. Going through necessary procedures, SKC intends to close the deal by no later than the end of the year.SK PUCore, SKC’s key PU ingredient production subsidiary, has produced polyol, an ingredient for polyurethane, for over 30 years since 1991. SK PUCore has been rapidly expanding its overseas production bases in the United States, China, Poland and Mexico, as one of the two pillars of SKC’s chemical business along with SK PIC Global. The company is also entrenching its presence as a global leader of the PU industry, launching eco-friendly PU ingredient business with the first re-polyol and bio-polyol ever developed in Korea.SKC decided to sell off the PU ingredient business in a bid to complete its vision as a global material ESG solution company focused on EV batteries, semiconductors and eco-friendly materials. The PU ingredient business needed significant additional investments to cope with a rising market demand and cater for the ever diverse customer needs. Considering its business model innovation vision, SKC decided to make the sale to a company better equipped to fund the growth and development of the industry.Glenwood PE acquiring SKC’s PU ingredient business is one of the top-tier private equity fund management companies in Korea, known to be making aggressive investments after acquisitions to develop growth drivers and strengthen corporate competitiveness. Glenwood PE is expected to bolster the global competitiveness of the PU ingredient business, maintaining employment stability and making additional investments after taking over SK PUCore.With the sales proceed, SKC aims to enhance its financial stability and cover investment needs to meet global demand for eco-friendly materials, boost its competitive edge and expand its business presence. SKC is innovating its business model rapidly, dedicating a copper foil plant in Malaysia, investing in biodegradable material production in Vietnam, and acquiring equity in the chip packaging solution provider Chipletz this year.“We will realign our business portfolio with EV batteries, semiconductors and eco-friendly materials in a bid to lay the groundwork for global expansion and future growth,” said an official at SKC. “We will rapidly complete our business model innovation to grow into a global ESG material solution company representing Korea.” [End]
2023-10-12
SKC fosters eco-friendly consumption with My Green Place X Environmental Mark
● Running My Green Place booth in the ESG-ECO EXPO Korea 2023 to be held from Oct. 11 to 13 in COEX● Promoting Environmental Mark-certified products conducive to eco-friendly consumption ··· providing a lot more information in support of eco-friendly consumptionSKC (CEO: Woncheol Park) joins the ESG-ECO EXPO Korea 2023, Korea’s biggest environmental trade show, to boost public awareness of products bearing environmental marks and encourage eco-friendly consumption.In the environmental trade fair organized by the Ministry of Environment and hosted by the Korea Environmental Industry & Technology Institute (KEITI) for three days starting October 11 in COEX, Gangnam-gu, Seoul, SKC will set up My Green Place, Korea’s first-ever game platform designed to publish waste sorting guides, in the Special Environmental Mark Pavilion opened by the KEITI.Launched by SKC on the Day of the Earth (April 22), My Green Place is Korea’s first mobile game platform intended to publish waste sorting guides. Simply by scanning a barcode printed on a plastic container, consumers can easily find descriptions of unfamiliar plastic materials such as PET and PE, and guides on how to sort and through away such plastic wastes. They can also earn mileage points that can be used in a game to turn barren fields into green zones. My Green Place has been downloaded over 90,000 times so far. SKC has set up a special space for visitors to experience My Green Place app. The company is also running the Find Environmental Marks campaign in which the first 2,000 players who succeeded in scanning the barcodes on Environmental Mark-certified products placed in the exhibition booth and earned corresponding stamps are entitled to free giveaways.The Environmental Mark is an eco-friendliness certification program backed up by the government that allows products and services to reduce energy and resource consumption and minimizing pollution footprints throughout its entire lifecycle from production to consumption to bear a certification logo (Environmental Mark). Since signing a memorandum of understanding (MoU) on the Promotion of Resource Circulation & Eco-friendly Lifestyle with KEITI in this July, SKC has published increasingly more information on products bearing the Environmental Mark via My Green Place app. The app can help consumers not only to find guides on how to sort and discharge product wastes but also to verify the certification status of products that they consider buying. Moreover, SKC is leveraging My Green Place as a platform for various social outreach initiatives. ‘My Green School,’ a resource circulation education program supported by SKC people volunteers to help elementary schoolers who will shape the future of our society to develop greater awareness of environmental conservation and needs for waste sorting, was launched in the previous month and ‘My Green Campus’ event where visitors can experience My Green Place was held in four university festivals in this this spring.“Joining Korea’s biggest eco-friendly ESG trade exhibition, we will be able to foster the use of eco-friendly products among consumers more effectively,” said an official at SKC. “SKC will continue to launch various other initiatives to bring the awareness of resource circulation home to the general public.” [End][‘My Green Place’ on exhibit in the ESG-ECO EXPO Korea 2023]
2023-10-11
SKC closes acquisition of global chip test solution provider ISC
● Winding up the acquisition procedure on Oct. 4··· Incumbent ISC CEO Kim Jeong-ryeol and CEO Kim Jong-woo of SK Enpulse to jointly take the helm● ISC to emerge as a pivotal block of the chip business··· vowing to post 3 trillion won in chip materials sales by 2027, reshuffling its product portfolio with high-value itemsISC, a global leader of chip test solutions, is making a fresh start as a subsidiary of SKC (CEO: Woncheol Park).SKC fully paid the stock purchase price on October 4, wrapping up the acquisition of ISC. Together with incumbent CEO Kim Jeong-ryeol, CEO Kim Jong-woo of SK Enpulse will be appointed as a joint CEO. Signing a stock purchase agreement (SPA) with ISC’s biggest shareholder, Helios Private Equity Fund No.1 this July, SKC has worked on steps to close the deal, including submission of corporate consolidation report in Korea and elsewhere. SKC also participated in ISC’s recapitalization to raise its equity ratio to 45%, laying down groundwork for further growth.Incorporated in 2001, ISC has built its portfolio around test sockets for testing the electrical properties of semiconductor chipsets. Test sockets are regarded as a key consumable in the downstream segment of chipmaking process. In particular, as leading chipmakers try to advance packaging technologies to improve the performance of chipsets, demand for test chips is rising rapidly, implying significant potential growth way forward. ISC succeeded in commercializing the world’s first silicone-based test sock in 2003, currently dominating the market with over 50% market share. ISC also excels in technological prowess, holding the industry record of more than 500 patents. Let alone silicone sockets, ISC possesses a variety of test solutions, including copper alloy-based pogo sockets that are conventional electrical property test sockets and interface boards. SKC aims to facilitate the growth of ISC as a key building block of its chip material business. In addition to becoming an investment destination by scaling up its existing business, ISC is expected to create synergy by forging technological collaboration with semiconductor substrate business and commercializing integrated solutions. Furthermore, SKC vows to work on additional M&A deals in the semiconductor sector to boost the semiconductor sales to 3 trillion won by 2027. Prior to the ISC deal, SKC sold off its basic semiconductor material business involving wet chemical and washing to local companies in China the previous month. SKC also invested in Chipletz in the United States in a bid to enhance its business foundation for cutting-edge chip packaging solutions and dedicated a semiconductor substrate production plant in the State of Georgia, putting in high gears its chip business migration to high-value materials/components.“Acquiring ISC, SKC is embarking on a full-scale migration of semiconductor business portfolio to high-value products and solutions,” said an official at SKC. “To stimulate the growth of ISC, we will render active support, identifying new business opportunities and launching drastic investment initiatives.”
2023-10-04
SKC invests in world’s biggest biodegradable material production facility in Vietnam
● Received IRC from Hai Phong City, Vietnam on the 22nd ··· putting in high gear the expansion of its global biodegradable material business● Production plant capable of producing high-strength PBAT(annual throughput of 70K tons)·biodegradable LIMEX (annual throughput of 36K tons) from 2025SKC(CEO & President Woncheol Park) has chosen Hai Phong City, Vietnam as its global production base of eco-friendly biodegradable materials, committing full-scale investment.SKC announced on the 25th that its biodegradable material production subsidiary, Ecovance, received an investment registration certificate (IRC) from Hai Phong City in the Hai Phong Conference Center, Vietnam on the 22nd (Vietnam local time). The IRC handover ceremony was attended by top leaders of SKC and Hai Phong City, including CEO Woncheol Park of SKC, Secretary Le Tien Chau of Hai Phong Party Committee and CEO Hojin Yang of Ecovance.Biodegradable material is a ‘perishable plastic’ that can replace conventional plastic. As more people are aware of the needs to reduce the use of disposable goods and relevant regulations increase, the biodegradable material market is growing rapidly. Industry watchers expect the global market for biodegradable materials to grow at an annual rate of over 20% into the future. SKC and Ecovance plan to build a PABT (polybutylene Adipate Terephthalate) production plant, which is one of the best known of its kind, in full swing to start commercial operation in 2025 under the auspices of the local government. The planned production facility of Ecovance is intended to produce 70,000 tons a year, the world’s biggest production capacity for a single production site. Moreover, Ecovance has already secured sites for additional capacity in the special economic zone of Hai Phong City as a stepping stone for further global expansion. SKC, via Ecovance, has endeavored to commercialize its proprietary biodegradable material, high-strength PBAT. In particular, to address the durability-related weakness of ordinary PBAT, nano cellulose extracted from wood is used as reinforcing material to drastically raise the strength of PBAT to conventional plastic. Accordingly, it can be used for a variety of applications, including mulching or packing film, consumer product containers, felt for diaper or face mask, etc. Buyers of considerable volume are already secured in the global market.SK TBM Geostone, SKC’s biodegradable LIMEX material subsidiary, will also base its production facility in the aforementioned plant. SK TBM Geostone intends to build a production plant capable of producing 36,000 tons in the special economic zone of Hai Phong City by 2025. In 2021, SKC incorporated a joint venture, SK TBM Geostone, with TBM of Japan that had the LIMEX technology to combine limestone and conventional plastic resign to suppress plastic usage, paving the way for its commercialization. Biodegradable LIMEX is a new eco-friendly material made by mixing natural inorganic limestone with biodegradable PBAT instead of regular plastic. It is expected to deliver superb quality and competitive price thanks to the synergy between Vietnam’s tremendous limestone reserve and Ecovance’s PBAT production capacity. Commercial negotiations with leading hotel brands and manufacturers of household supplies, toy products and cosmetics are already in the pipeline.One of the top five cities under direct control of the Central Government in Vietnam along with the capital city of Hanoi and Ho Chi Minh City in south, Hai Phong is Vietnam’s best known port city and a key industrial center. In particular, the special economic zone of Hai Phong where SKC’s biodegradable material production facilities will be based is touted for its optimum mix of sea port and logistic infrastructure. Furthermore, the industrial complex can satisfy the RE100 requirements by covering all energy needs with renewable energy sources, ensuring eco-friendliness of production processes. “We can secure global competitiveness by investing in production capacity located in the special economic zone of Hai Phong City, Vietnam, optimized as a base of biodegradable material business,” said an official at SKC. “We will further our eco-friendly business lineup by drawing upon the high-strength PBAT and biodegradable LIMEX technologies in expanding business portfolio to PBS, etc.” [End][SKC invests in world’s biggest biodegradable material production facility in Hai Phong City, Vietnam. In the IRC handover ceremony held in the city on the 22nd, attendees are clapping their hands, including CEO Park Won-cheol of SKC and Secretary Le Tien Chau of Hai Phong Party Committee (4th from the left)]
2023-09-25