■ SKE·SKTI donated COVID-19 diagnostic kits worth about 50,000 USD to Myanmar, one of their major international business hubs
– Last year, SKE·SKTI acquired 35% stakes of BOC, Myanmar’s largest oil distribution group for a new growth opportunity
■ Suh Sok-won, CEO of SKTI, said, “The donation is part of humanitarian efforts and I hope it will help enhance amicable relations of both companies and both countries.”

SK Energy, SK Innovation’s subsidiary for the oil business, and SK Trading International provided Myanmar with 4,000 diagnostic kits for COVID-19.

On May 9, SK Energy and SK Trading International announced that they donated 4,000 diagnostic kits to detect COVID-19 that cost about $50,000 to Myanmar, which is one of their major international business hubs. As the virus is spreading around the country with 176 confirmed cases and 6 deaths, shortage of the diagnostic kits is preventing people in Myanmar from getting tested for the virus.

On May 8, the two companies sent 4,000 diagnostic kits to the country by a Myanmar flight. In cooperation with the Korean ambassador to Myanmar, they were able to send the kits without paying for the cost of air freight consignment. The kits were received by Myanmar’s Ministry of Health and Sports upon arrival at the airport.

The diagnostic kits were made by Korean manufacturer BioSewoom Inc., approved by Korean MFDS (Ministry of Food and Drug Safety) and also received emergency use authorization from the U.S. FDA. Their quality and capability have already been proven as they have been exported to dozens of countries around the world including the U.S., Europe and Southeast Asia.

SK Energy and SK Trading International have increased their presence in Myanmar. Last July, the two companies signed an agreement to purchase 35% of stakes – each of the companies acquired 17.5% of BOC (Best Oil Company), Myanmar’s largest oil distribution group. They completed the equity acquisition in last December.

BOC is a holding company with subsidiaries for import and distribution of petroleum products as well as operation of a terminal for petroleum products import. During the equity acquisition, SK explained that the agreement is a strategic investment in exploring a new growth opportunity by having a reliable export and trading market and entering the oil distribution market of Myanmar.

Suh Sok-won, CEO of SK Trading International, said, “Myanmar is important to our business, which is well demonstrated with our cooperation with BOC but the donation of the kits was decided from humanitarian perspective because we wanted to provide assistance for the country when we heard the country is facing difficulties of COVID-19 testing due to shortage of diagnostic kits.” He added, “With the donation, I hope not only Korea but Myanmar will get through this tough time, and both companies and furthermore, both countries will enhance our amicable relations.”

[Photos]

(Photos 1) From left, SK Trading International professional leader in charge of Myanmar Business Kim Tae-jin, BOC Chairman Aung Shwe, Korean Ambassador in Myanmar Lee Sang-hwa, and Myanmar’s Ministry of Health and Sports Department of Medical Research Director General Dr. Zaw Than Htun take pictures after the donation ceremony.

(Photos 2) SK Trading International professional leader in charge of Myanmar Business Kim Tae-jin (third from left), BOC Chairman Aung Shwe (fourth from left), Korean Ambassador in Myanmar Lee Sang-hwa (fourth from right), Myanmar’s Ministry of Health and Sports Department of Medical Research Director General Dr. Zaw Than Htun (third from right) and representatives from both sides take pictures after the donation ceremony.