SK Innovation Merges with SK IE Technology
On Aug. 25, SK Innovation and SK IE Technology (SKIET) each held a board of directors meeting and resolved the agenda to push forward with the merger. The purpose is to bring the separator business, which SKIET has managed as a separate corporate entity, back into the parent company to secure financ
On August 25, SK Innovation and SK IE Technology (SKIET) each held board of directors meetings to ratify plans for their merger. The merger aims to consolidate SKIET's separator business back into the parent company for improved financial stability and efficiency. SK Innovation will absorb SKIET and distribute new merger shares to SKIET shareholders in a 1:0.117454 ratio.
The merged entity will list its shares on January 18, with the merger effective January 1 of the following year. Despite SK Innovation's small-scale merger procedure, SKIET will undergo a full merger process. Founded in April 2019 through the division of SK Innovation's materials business, SKIET has become a key player in producing lithium-ion battery separators for electric vehicles.
However, SKIET has been struggling with declining profits in 2024 and 2025, leading SK Innovation to believe a merger is the better option for reducing risks and enhancing competitiveness. Post-merger, the companies plan to strengthen their business structure and improve operational efficiency, potentially expanding their presence in the energy storage systems market.
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