■ Sinopec-SK Petrochemical’s 10th anniversary ceremony held in China, attended by leaders of both SK Geo Centric and Sinopec, including CEO Na Kyung-soo and CEO Jiang Shou Lin

■ Continued operation with operating surplus since the first year of operation; 3 million tons of chemical products in total are being produced annually

■ SK Geo Centric emphasized to diversify global cooperation for waste plastic recycling and high-value-added chemical materials

SK Geo Centric announced that Sinopec-SK Petrochemical, a joint venture of the company with China’s state-owned energy company Sinopec, held a ceremony to mark the 10^th anniversary of its establishment at its factory in Wuhan, Hubei Province, China on August 12. The ceremony was attended by notable dignitaries such as Na Kyung-soo, CEO of SK Geo Centric, Lee Cheng Feng, General Manager of Sinopec, and Jiang Shou Lin, CEO of Sinopec-SK Petrochemical.

In 2013, Sinopec-SK Petrochemical was founded with a substantial investment of KRW 3.3 trillion, of which 35% belonged to SK Geo Centric and 65% to Sinopec. Over the past decade, Sinopec-SK Petrochemical has operated with profitability, initiating its journey with a first-year profit of KRW 147.7 billion. Currently, it employs approximately 3,000 employees and annually produces 3 million tons of various chemical products, including 1.1 million tons of ethylene, 900,000 tons of polyethylene, and 700,000 tons of polypropylene.

Building on the 10-year collaboration experience with Sinopec-SK Petrochemical, SK Geo Centric plans to enhance cooperation in the fields of plastic recycling and high value chemical material production. The company’s objective is to accelerate their presence in the future chemical market by expanding collaborations with partners like Sinopec from various overseas locations.

In the pursuit of this objective, SK Geo Centric is actively engaged in the establishment of the Ulsan ARC (Advanced Recycle Cluster), the world’s first groundbreaking plastic recycling facility, in collaboration with the US-based company PureCycle Technologies (PCT). With global chemical companies such as Tokuyama in Japan and Sabic in Saudi Arabia, the company is also working to diversify its product portfolio of high-value-added chemical materials with high utilization.

Jiang Shou Lin, CEO of Sinopec-SK Petrochemical, affirmed, “Sinopec-SK Petrochemical will continue to wield substantial influence as a key hub for major chemical production in China.” This statement underlines their dedication to securing future competitiveness.

Na Kyung-Soo, CEO of SK Geo Centric, highlighted the company’s legacy by noting, “Since the inception of South Korea’s first Naphtha Cracking Center (NCC) in 1972, SK Geo Centric has capitalized on its profound expertise in chemical production.” “We will continue to strive for product innovation in plastic recycling, high value chemical materials, and contribute to the exploration of the future chemical market through strategic alliances with diverse global enterprises.”

[Photos]

(Photo 1) CEO of SK Geo Centric Na Kyung-soo (second from the right) and key officials from both companies are looking around the Sinopec-SK Petrochemical factory in Wuhan, Hubei Province, China on August 12 (local time).

(Photo 2) CEO of SK Geo Centric Na Kyung-soo (second from the right), CEO of Sinopec-SK Petrochemical Jiang Shou Lin (third from the right) and other key officials from both companies are inspecting the chemical product manufacturing status at the monitoring room of Sinopec-SK Petrochemical factory in Wuhan, Hubei Province, China on August 12 (local time).