Happy New Year! It is the Year of the Ox in 2021, and looking back at 2020, things have been tough, as it was an unprecedented time of hardship and perseverance. The unexpected COVID-19 pandemic brought about great changes in our lives, requiring a monumental amount of patience. Amid the global crisis and economic recession, where oil prices plunged and the demand for electricity and gas decreased, SK E&S also faced many challenges.
However, even with these hardships, SK E&S has made much progress by preemptively preparing for and promptly responding to the challenges.
Based on thorough preparation and a differentiated bidding strategy, the renewable energy business has secured a large-scale photovoltaic project in Saemangeum, Gunsan, while the wind power business has carried out its specific plans to achieve the carbon net balance through various efforts, such as attracting investments from a top-tier global company. In addition, we successfully made investments and secured a test bed to become a platform in the energy solution business not only in Korea but also in the United States.
As SK E&S prepares for a new leap, 2021 will serve as the first year of realizing our own financial story and of our great transformation toward the “green portfolio,” which encompasses hydrogen, renewable energy, and energy solution businesses.
I wish you all health and happiness in the year 2021. Happy New Year once again!
Yu Jeong-Joon
Vice Chairman & CEO of SK E&S
Greetings! I would like to wish everyone a happy New Year in this Year of the Ox. I am Choo Hyeongwook, the new chief executive officer of SK E&S.
Ten years ago, SK E&S was just a city gas holding company, but now, it is one of the leading companies in the gas and power industry.
It has achieved great heights in terms of stability, profitability, and growth potential in financial measures, thanks to its superb leadership, ambitious employees, and the support of all stakeholders, who have been dedicated to the company’s transformation and growth.
The global energy paradigm is quickly shifting from fossil fuels to eco-friendly energy, emphasizing environmental, social, and corporate governance (ESG).
Embracing this rapid change as an opportunity and based on its successful experiences so far, SK E&S intends to take drastic measures to become a “global major eco-friendly energy company.”
Above all, SK E&S aims to complete the “competitive green portfolio.” While maximizing both economic and social values through the differentiated business model in renewable energy and energy solutions, SK E&S plans to become the top global company in the hydrogen business by preemptively coping with the upcoming hydrogen economy.
Furthermore, without hesitation, we will promote innovation in the existing business models for power, LNG and city gas and develop an efficient business structure to strengthen profitability and growth potential.
Lastly, based on open communication, we will help our stakeholders achieve greater well-being.
The goal to become a global major eco-friendly company can only be accomplished by being audacious without hesitation, and this will require courage.
Together with the members of SK E&S, who are free-spirited and warm but fierce and bold, I will lead by example in writing the successful financial story of SK E&S as we all aspire to realize our big dream.
Happy New Year once again, and I wish all of you good health and happiness.
Hyeongwook, Choo
CEO & President of SK E&S