President Chung Cheol-gil of SK Innovation.

SK Innovation celebrated the 30th anniversary of Global Technology (GT), a research institute for energy and chemicals for the energy affiliate of SK Group.

At a ceremony held at Daeduck Research Complex near Daejeon, President Chung Cheol-gil of SK Innovation said, “we have to have our own pool of best technologies to fight such crises as the ‘Winter Typhoon’ that swept the energy industry last year as there is no alternative plans in the way of stressing the crucial importance of R&D.”

“Global Technology serves a pivotal role in the R&D and engineering support of SK Innovation and its subsidiaries,” the company said. 

Global Technology is comprised of Engineering Division, Global Technology Strategy Office, and GT Management Support Office and of a Institute of Technology.

The now-defunct Korea Oil Corp. started the R&D Center in 1985 in Ulsan, where its oil refinery is located, to take up R&D in oil and chemical areas. Global Technology (GT) took over the R&D operation from 2011 after taking over the Daeduck Technology Institute set up in 1994.

GT developed various technologies for such areas as high-level basic lube oil, lithium ion battery LiBS, Nexlen (high function poly ethylene), batteries for electric cars, among others, to help SK Innovation and its affiliates expand their operations.

GT, for the first time, developed the technology to produce YuBASE, a basic lube oil from unconverted oil in 1995. Thanks to the new technology, SK Lubricant has been exporting YuBASE to some 30 countries around the world since then, dominating the largest market share of the high-level lube oil market in the world. In 2004, GT developed the technology to produce high-quality Nexlen. Thanks to the new technology, SK Integrated Chemical is now busy setting up a joint venture Nexlen plant with Sabic of Saudi Arabia in Ulsan.

GT also developed the basic material for lithium ion battery LiBS in 2005 to make SK Innovation the second largest supplier of LiBS in the world, with an 18 percent share of the market.

SK Innovation also developed the technology to produce medium- to large-size car batteries in 2005 and has been turning out the batteries for commercial operation since 2006.

Gwak Byung-song, in charge of the overall GT operation, said GT will continue to develop cutting edge technologies for SK Innovation so that the company will continue to boost its value to grow as a global concern in the days ahead.

SK Innovation Co., Ltd. is a Korea-based holding company engaged in the development of petroleum and management of its subsidiaries. Through its subsidiaries, the company mainly operates in four business segments: petroleum development and other segment, chemical segment, lubricant segment and petroleum segment. 

Its petroleum development and other segment engages in the development and manufacture of petroleum, and provision of lithium-polymer batteries and Li-ion battery separators (LiBSs). Its chemical segment engages in the manufacture and trading of chemical products, including ethylene, poly propylene, synthetic resins and others. Its lubricant segment engages in the manufacture and marketing of lubricant products. 

Its petroleum segment engages in the provision of lead-free gasoline, kerosene, diesel and others, trading and bunkering of petroleum products, as well as operation of truck rest areas. On March 26, 2014, the Company acquired a 100% stake in SK E&P America, Inc. 

SK innovation has been leading Korea’s energy industry for the past five decades. Early on, the company expanded into overseas resource exploration. These efforts have seen tangible results in projects in Vietnam, Peru, Brazil and elsewhere, elevating our global stature in natural resource development. Today, our participation in 29 blocks located in 16 countries has provided the foundation for us to compete head-on with the world's largest players.

A view of an oil refinery complex of SK Innovation in Ulsan.(Photos:SK Innovation)