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• SK nexilis Divests Thin Film Business to Focus on Strengthening Core Competencies ● Signed a business transfer agreement with private equity firm Affirma Capital for KRW 95 billion​● ​Prioritizing financial stability this year by timely liquidating non-core businesses to secure cash​● ​Accelerating business restructuring with a focus on high-value-added products such as Absolics’ glass substratesSKC (CEO Woncheol Park) is divesting the thin film business of SK nexilis, its EV battery materials subsidiary, to private equity firm Affirma Capital. After its Board of Directors (BoD) meeting on November 13, SK nexilis announced its decision to transfer its thin film business, which supplies FCCL (Flexible Copper Clad Laminate) for displays, to Affirma Capital for KRW 95 billion. The two companies signed a business transfer agreement immediately after the BoD meeting. SK nexilis plans to complete the necessary procedures to finalize the transaction by February next year.FCCL (Flexible Copper Clad Laminate) is a key electronic material for transmitting video signals in display products such as smartphones and TVs. It is widely used in Chip On Film (COF) applications for displays. By leveraging its advanced thin-film manufacturing technology, SK nexilis has played a significant role in advancing ultra-high-definition display products.Affirma Capital, the acquirer of SK nexilis’ thin film business, is recognized for its expertise in carve-out strategies, particularly acquiring non-core business units from conglomerates and enhancing their enterprise value. Further investment is expected post-acquisition to enhance the competitive edge of the thin film business.Earlier this year, SKC prioritized financial stability and actively pursued the timely liquidation of non-core businesses. These efforts secured over KRW 1 trillion in cash, easing the financial burden on its subsidiaries. In September, SKC also fully repaid the acquisition financing by injecting KRW 700 billion into SK nexilis through a paid-in capital increase.Building on its strengthened financial stability, the company is accelerating business restructuring focused on high-value-added products, including Absolics’ glass substrates,. The glass substrate business aims to commence mass production for customers next year, while the semiconductor materials business is working to enhance its competitiveness through ISC, a semiconductor test solution provider.“We will utilize the proceeds from the sale of the thin film business to strengthen the competitiveness of our core businesses,” an SKC official stated, adding, “Our ongoing efforts to enhance financial stability through the sale of non-core businesses will prepare us for a full-scale rebound starting from next year.” [End]
• SKC Expands Resource Recycling Education for Elementary Students with My Green Place ● My Green School, a resource recycling education program for elementary students, will be held consecutively this year in Uiseong, Gochang and Ulsan●​ My Green Place, a game-based waste sorting platform, has been designated as an ‘Outstanding Environmental Education Program of 2024’ by the Ministry of EnvironmentSKC (CEO & President Woncheol Park) has launched a resource recycling education program for elementary students, who are the future leaders of our society, using the game-based waste sorting platform My Green Place. Oh the 13th, SKC announced that it had partnered with the Happy Alliance, a social contribution network, to conduct the My Green School activities at a community child center in Gochang-gun, Jeonbuk Province. My Green School is an education program targeted at elementary students, launched by SKC to enhance awareness of proper waste separation. Since 2022, SKC has been conducting annual demonstration on plastic waste sorting methods at elementary schools and community child centers across the country.This year, starting on the 5th with the Grape Tree Community Child Center in Uiseong-gun, Gyeongbuk Province, along with three nearby centers, SKC will sequentially conduct educational sessions for about 100 students, moving from Gochang-gun, Jeonbuk Province on the 13th to a community child center in Ulsan on the 23rd.During the program, students learn about the properties of plastic materials and then use the My Green Place app to scan barcodes on plastic products, helping them learn proper waste sorting methods. Particularly this year, the program incorporates animations that clearly explain the waste sorting methods for different plastic types, making the education more engaging and accessible for students.My Green Place, Korea’s first game-based waste sorting app, launched in 2022, surpassed 100,000 cumulative downloads last year. Right after its release, it won the Minister of Environment Award (Grand Prize) at an idea competition hosted by the Ministry of Environment, its excellence was reaffirmed in May this year when it was designated as an Excellent Environmental Education Program.To further expand its educational outreach, SKC plans to further strengthen its collaboration with local communities in the second half of the year. Additionally, the Company aims to broaden its educational scope by participating in the government’s Neulbom School program, which ensures all first-grade students receive care at schools. Through this program, SKC will deliver practical environmental education focused on waste sorting, continuing to expand the scope of its education program.“With our resource recycling program utilizing the My Green Place, we aim to enhance the social value of the platform and lead the way in increasing awareness about resource recycling,” said an SKC official. ”We are committed to continuing our social contribution activities to support our ESG practices.” [End][SKC conducted a resource recycling education utilizing My Green Place at a community child center in Gochang, Jeonbuk Province on the 13th]