SK Innovation launches two subsidiaries

SK Innovation Co has launched two subsidiary units, SK Incheon Petrochem (SKIPC) and SK Trading International (SKTI), in a bid to combat the rapidly changing global business environment. SK Incheon Petrochem will spend 1.6 trillion won (US$1.4 billion) on the expansion of its plants for the production of higher value-added petrochemicals, including paraxylene, to tap the Chinese petrochemical market by attracting foreign capital. SK Trading International plans to grow into a global petrochemical trading company on the basis of its trading business affiliated with SK Energy. The launch of the two subsidiaries has increased the number of the holding company's subsidiaries to five from three, which are SK Energy Co., SK Global Chemical Co. and SK Lubricants Co.
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