|Bid||162,500.00 x 0|
|Ask||163,000.00 x 0|
|Day's Range||160,000.00 - 163,000.00|
|52 Week Range||151,000.00 - 215,000.00|
|Beta (3Y Monthly)||0.19|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 31, 2019|
|Forward Dividend & Yield||8,000.00 (4.89%)|
|1y Target Est||259,000.00|
A feud between two South Korean battery makers escalated on Friday as SK Innovation Co Ltd said it plans to sue bigger rival LG Chem Ltd in the United States over alleged patent infringement related to electric vehicles (EV). The proposed new lawsuit by SK Innovation drew a swift denunciation from LG Chem, which called the action "groundless" and said it would seek compensation. The two companies have been at loggerheads since LG Chem sued SK in the United States in April for alleged theft of trade secrets by hiring former LG Chem employees.
Moody's Investors Service has changed the outlook on the ratings for SK Innovation Co. Ltd. (SKI) and SK Global Chemical Co., Ltd. (SKGC) to negative from stable. At the same time, Moody's has affirmed the Baa1 issuer ratings of SKI and SKGC and the senior unsecured bond rating of SKI.
South Korea halted all imports of Iranian oil in May, customs data showed on Saturday, as waivers on U.S. sanctions against Iran ended at the start of last month. The world's fifth-largest crude oil importer was among countries granted six-month waivers by the United States in November last year, and resumed Iranian oil imports from January this year after a four-month hiatus. SK Innovation, the owner of South Korea's top refiner SK Energy and petrochemical maker SK Incheon Petrochem, said in late May that it has been replacing Iranian condensate with crude oil from other sources, including Qatar and Russia.
Samsung initially agreed to deliver batteries for just over 20 gigawatt hours, enough to power 200,000 cars with 100 kilowatt hour packs, before different views on production volume and schedule emerged during detailed negotiations, said the people, who asked not to be identified as the talks are confidential. The impasse cut pledged supplies to less than 5 gigawatt hours, they said. Access to vast amounts of batteries to power a growing number of electric vehicles has emerged as a new battleground for global automakers amid capacity constraints, supply bottlenecks and limited access to raw materials.
Asia's oil refiners are considering reducing output after margins slumped to their lowest for the season since 2003, according to industry sources and Refinitiv data. Companies that planned to trim output include SK Energy, a unit of SK Innovation, the Singapore Refinery Company (SRC), owned by PetroChina and Chevron Corp, four people familiar with the matter said. In China, independent refiners known as 'teapots', which account for about a fifth of the country's crude imports, operated at below 50% of capacity on average in April through May, versus 64% in the first quarter, said Zang Wengang, an analyst with Sublime Information Co.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of SK Innovation Co. Ltd. Hong Kong, May 03, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of SK Innovation Co. Ltd. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Electric vehicle battery maker LG Chem said it has sued its South Korean peer SK Innovation in the United States for alleged theft of trade secrets. LG Chem and its American unit have filed a lawsuit against ...
SEOUL/SINGAPORE (Reuters) - South Korea will likely return to a familiar game plan to replace Iranian oil it will no longer have access to after May now that the United States intends to tighten sanctions on Iranian exports. South Korea is the biggest buyer of Iranian condensate, an ultra-light oil prized by the country's refiners as a raw material for petrochemicals manufacturing. SK Incheon Petrochem Co Ltd, Hyundai Oilbank Corp and Hanwha Total Petrochemical are set to once again scan the world for alternative, but more expensive, condensate supplies and snap up heavy naphtha oil products for their processing units, known as splitters, industry sources and analysts said.
The Trump administration on Thursday estimated that its new North American trade deal will create 76,000 automotive sector jobs within five years as automakers invest some $34 billion in new plants to comply with the pact's new regional content rules. The forecasts from the U.S. Trade Representative's office were released ahead of an independent trade panel's hotly anticipated analysis that economists expect to show little or no U.S. gains from the new U.S.-Canada-Mexico Agreement. A USTR official told reporters that the jobs and investment estimates are based on plans disclosed by automakers to the trade agency for compliance with the new agreement's tighter rules of origin.
SHANGHAI (Reuters) - Volkswagen is pushing its joint venture partners including SK Innovation (SKI) to build electric car battery plants which have at least one Gigawatt manufacturing capacity, Chief Executive ...
SK Innovation Co Ltd is in talks to set up separate battery-making joint ventures with Volkswagen AG and Chinese partners, as the South Korean petrochemicals producer aggressively expands its involvement in electric vehicles (EVs). The company confirmed talks with Germany's Volkswagen for the first time, telling Reuters the pair were discussing building a factory together. It also said it was on the cusp of agreeing to build a plant in China with undisclosed partners.
Moody's Investors Service has revised to negative from stable the outlook on the Baa2 issuer and Ba1 preferred stock ratings of SK E&S Co. Ltd. On 14 February 2019, SK Holdings Co., Ltd., the parent company of SK E&S, announced SK E&S' dividend of KRW671.5 billion, an amount which is much higher than the dividend range of KRW152.1 -- KRW265.5 billion paid during 2016-18, and higher also relative to Moody's rating expectation. Moody's believes the high dividend mainly takes into account SK E&S' improved operating results in 2018 and cash proceeds from the sale of its 49% stake in the Paju power plants in November 2018.
SEOUL/SINGAPORE (Reuters) - South Korea's purchases of U.S. oil and gas this year will hold to the rapid pace set in 2018, likely narrowing its trade surplus with the world's top economy further and bolstering its ties to Washington. South Korea is expected in January and February to import at least 18 million barrels of crude oil and 900,000 tonnes of liquefied natural gas (LNG) from the United States, according to trade flow data from Refinitiv Eikon.
A South Korean oil buyer is set to receive about 2 million barrels of Iranian condensate in January, a source familiar with the matter said on Monday. The cargo marks the first Iranian oil import by South Korea in four months after the world's fifth-largest oil buyer halted imports before the U.S. reimposed sanctions on Iran in November.