SK Innovation stands by SK On amid restructuring

SK Innovation CEO Choo Hyeong-wook on Tuesday reaffirmed the group’s commitment to its battery business at a shareholders meeting in Seoul, dismissing concerns over a potential stake sale of SK On. “SK Innovation remains strongly committed to the battery unit and its long-term growth,” he said. Choo pledged to strengthen profitability and technological competitiveness at SK On as the company continues restructuring amid a slowdown in electric vehicle demand. SK Innovation, he said, is optimizing

By The Korea Herald