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SKC Publishes 2024 Sustainability Report
● Compiled to ensure ‘more detailed and transparent information sharing’ ···first instance of disclosing ESG data for each investee● Providing integrated information on business innovation and ESG management to enhance the utility of information for stakeholders, including investors and rating agenciesSKC (CEO Woncheol Park) released its ‘2024 Sustainability Report’ on its website on the 28th. Marking the fifth edition since its inauguration in 2020, the 2024 Sustainability Report has been compiled to provide key stakeholders, including investors, customers, rating agencies, and civic groups, with more detailed and transparent information on ESG management status.The report is composed of three main sections: the Corporate Overview section, the ‘Sustainability Storybook’ that describes the status of SKC’s business sustainability and ESG management, and the ‘ESG Factbook’ that showcases ESG-relevant data. The Sustainability Storybook covers SKC’s business model innovation in EV battery, semiconductor, and eco-friendly materials, along with an overview of their ESG management system. Notably, the ‘SKC Special’ feature provides an at-a-glance view of significant changes from the past year, including the acquisition of the semiconductor test solution company ISC.The ESG Factbook contains detailed quantitative and qualitative ESG-related data for the years 2021 to 2023. Until last year, ESG data was disclosed only as a sum of SKC and its key investees. However, starting with this year’s report, the 2023 data is disclosed separately for SKC, SK Nexilis, SK picglobal, and SK enpulse, and others. This allows stakeholders to access environmental performance data, such as greenhouse gas emission reductions and water recycling, as well as social data covering human resource composition and supplier management status, broken down by each investee.The ‘2023 SKC Activity Report’ is also included in this year’s edition. SKC produced this report on a trial basis for the first time last year to promote the evaluation principles, indicators, compensation scheme of the SKC board of directors and CEO. Going forward, SKC vows to further enhance the soundness of the governance structure by continuing to disclose information transparently.An SKC representative said, ”We promise to continue with bold business model innovations based on our identity as a global ESG material solution company, while simultaneously implementing genuine ESG management practices. We will transparently disclose our performance to stakeholders.”
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SK Leaveo enters into biodegradable slow-release fertilizer market
● Signing an agreement with agricultural products wholesaler Nousbo on May 24 to commercialize biodegradable polymer-coated CRF fertilizers● Collaboratively developing PBAT-coated ecofriendly product to replace conventional plastic-based coating agentsSK Leaveo, the biodegradable material production subsidiary of SKC (CEO: Woncheol Park), enters into the biodegradable material (PBAT)-coated fertilizer market. Established as a joint venture between SKC and food manufacturer Daesang in 2021 to commercialize biodegradable materials, SK Leaveo is rapidly expanding its market coverage from ordinary disposable products to hygiene products such as wet wipe and diaper, and even agricultural fertilizer coating agents.SK Leaveo signed a memorandum of understanding (MoU) with agricultural products wholesaler Nousbo at its head office in Jongro-gu, Seoul on the 24th to collaborate on the commercialization of eco-friendly biodegradable slow-release coating fertilizers. The signing ceremony was attended by the management leaders of the two companies including CEO Hojin Yang of SK Leaveo and CEO Changgyun Kim of Nousbo.SK Leaveo and Nousbo have reached an agreement to collaborative develop ingredients, materials, processes, and product designs for the commercial launch of a new product by the first quarter of next year. They will also expand their partnership to include business model development and global marketing efforts, with the goal of further expanding their market presence.Slow-release fertilizers (SRFs) utilize coating agents to gradually release fertilizer, allowing for precise control of nutrient release aligned with crop growth. The use of SRFs is steadily increasingly due to their ability to significantly reduce soil and groundwater pollution, greenhouse gas emissions, and the need for labor by preventing fertilizer overuse. However, the majority of conventional fertilizer coatings are composed of plastic resins like polyester (PE), which can contaminate soil with residual microplastics.In contrast, the biodegradable slow-release coating fertilizers being jointly developed by SK Leaveo and Nousbo offer an innovative solution to these issues. PBAT, which biodegrades in the natural environment, is utilized as the coating material instead of conventional plastics, leaving no residual coating once the fertilizer is fully released. In addition, the biodegradation interval can be adjusted by varying the coating thickness, ensuring greater ease of control over the fertilizer release rate in alignment with the crop growth pattern.As concerns about microplastics in soil continue to rise, the biodegradable coating fertilizer market is expected to expand even further. Europe, one of the biggest fertilizer markets along with North America, intends to implement a ban on fertilizers coated with plastic resins from 2026.SK Leaveo held a groundbreaking ceremony in Hai Phong, Vietnam on May 11 to commence the construction of the world’s biggest single PBAT production plant capable, with a capacity to produce 70,000 tons annually. “The partnership MoU with Nousbo will facilitate the expansion of our biodegradable material business,” said an official at SK Leaveo. “We are dedicated to discovering additional applications for biodegradable materials by maintaining our commitment to technology development initiatives.” [End][SK Leaveo and Nousbo signed a Memorandum of Understanding (MoU) for the development and commercialization of biodegradable slow-release coating fertilizer at the SKC head office in Jongro-gu, Seoul on the 24th. CEO Hojin Yang of SK Leaveo (left) and CEO Changgyun Kim of Nousbo present copies of the MoU.]
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Rechargeable battery
In order to actively respond to the rapidly growing electric car market, SKC is developing products in the Rechargeable battery sector so as to secure momentum for new growth.
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Eco-friendly
SKC acknowledges corporate liability in terms of environmental issues, and has set eco-friendly as one of its major areas in which to secure momentum for growth.
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