■ CEO Park Sang-kyu visited SK Enmove’s global business sites in Europe and Japan to check on-site operations and encourage local members

■ SK Enmove is growing into a top-notch company with its premium base oil production technology and global networks

■ CEO Park emphasized that SK Enmove’s corporate value as an ‘Energy Saving Company’ should be globally acknowledged

SK Enmove CEO Park Sang-kyu embarked on his first MBWA (Management by wandering around) after taking office, with the aim of strengthening the company’s position as the leader in global Group III lube base oil market. He visited SK Enmove Europe B.V., located in Amsterdam, the Netherlands from April 10 to 14, and SK Enmove Japan Co., Ltd., located in Tokyo, from April 19 to 21 to check local operations and future strategies, and encouraged the local members.

SK Enmove is a global company specializing in lubricants and lube base oil, where more than 75% of its products is being exported. As the first lubricant oil company in Korea, the company has grown into one of the global top-tier companies based on its high-quality lube base oil production technology and overseas networks. This is the result of establishing and operating joint ventures with prominent energy companies such as Repsol in Spain and Pertamina in Indonesia to expand production capacity and pioneer global markets.

SK Enmove has six overseas business sites in total in the United States, Europe, and Japan. The production bases for lube base oil and lubricant products are located not only in Ulsan, South Korea but also in Cartagena, Spain, Dumai, Indonesia, and Tianjin, China. In particular, SK Enmove’s base oil production capacity, including the Ulsan plant, is 83,000 barrels per day, ranking third in the world. Its lube base oil brand, YUBASE, maintains its No. 1 position in the Group III lube base oil market.

As SK Enmove’s overseas business sites serve as the core base for its global management, CEO Park Sang-kyu visited them one after another to grasp global issues and directly shared the company’s strategic direction of “Energy Saving Company” after changing the company’s name. Since Europe is the market that leads the sustainable trend with high interest in green business, CEO Park listened to local opinions regarding future strategies.

He also ordered to strengthen SK Enmove’s competitive edge in preparation for the era of electric vehicle as the company has shifted its identity to an “Energy Saving Company”. As the demand for Group III base oils is expected to increase in line with the trend of upgrading lubricants, SK Enmove should preoccupy new markets based on its base oil competitiveness.

In addition, CEO Park Sang-kyu met with major local customers such as BP Castrol, ENEOS, and Idemitsu to solidify cooperative relationships. As it is difficult for base oil businesses to enter new markets without a large-scale facility investment and raw materials securement, maintaining close relationship with customers is essential for business competitiveness.

CEO Park Sang-kyu stated, “SK Enmove’s corporate value as an ‘Energy Saving Company’ needs to be recognized not only in the domestic market but also in the global market.” He added, “Based on our capabilities that have led the lubricant industry, we will continue to maintain our competitive edge in markets with high growth potential, such as electric vehicles.”

[Photo]

SK Enmove CEO Park Sang-kyu (fifth from the right in the front row) visited the company’s business site in Amsterdam, Netherlands on April 13 (local time) and took a commemorative photo with the local members.