"SK Innovation to Lead as AI Energy Solutions Provider through Electrification"

Chairman Chey Expands Power Infrastructure Scope
AIDC Collaboration With Global Big Tech Advances

Chairman Tae Won Chey of SK Group has identified "Electrification"—utilizing artificial intelligence (AI) for energy solutions and supporting AI data centers (AIDCs)—as a future growth engine for SK Innovation. He outlined a vision to move away from the traditional refining and chemicals business and expand into power generation, energy storage systems (ESS), and the broader power infrastructure sector, aiming to transform SK Innovation into an energy solutions company for the AI era.

Chairman Tae Won Chey of SK Group is discussing the future development direction of Ulsan in the AI era at the closing session of the "2026 Ulsan Forum," held on the 11th at the Ulsan Exhibition Convention Center (UECO) in Ulju-gun, Ulsan. SK

Following the closing session of the "2026 Ulsan Forum" held at the Ulsan Exhibition Convention Center (UECO) in Ulju-gun, Ulsan on the 11th, Chairman Chey was asked about SK Innovation's role in the AI era during a standing interview. He stated, "We are using AI to create energy solutions and developing electrification solutions needed for AI data centers. We have many plans for partnerships and investments to further expand this."

With AI data centers requiring massive amounts of electricity on a constant basis, the spread of the AI industry is increasing the importance of securing stable power supply capabilities. Chairman Chey's remarks highlight that SK Innovation, with its comprehensive energy portfolio ranging from power generation to storage and supply, could become responsible for the power infrastructure of SK Group’s AI business going forward.

SK Innovation is expanding its energy business beyond its existing oil and chemical operations into areas including liquefied natural gas (LNG) power generation, ESS, and small modular reactors (SMRs). The company aims to find business opportunities across the entire process of producing, storing, and supplying the electricity needed for AI data centers.

This strategic direction aligns with SK Innovation's previously announced growth strategies. In its earnings release, SK Innovation presented its goal of becoming an "energy solutions provider for AI infrastructure," responsible for ensuring stable power supply and operation in the AI era, and declared that electrification would become a key pillar of growth.

SK Group is also accelerating its AI data center business. Regarding ongoing collaboration with global big tech companies, Chairman Chey said, "We are making progress at a very rapid pace. Ulsan has almost reached 900 megawatts (MW). Once everything is completed, we will be able to make an announcement soon."

Chairman Chey also clarified the direction of change for SK Innovation. Regarding the transformation of Ulsan CLX, he said, "Instead of singling out Ulsan CLX, I can say that SK Innovation as a whole is undergoing this transformation. As oil output decreases, we will seek new solutions and repurpose the facility, land, and workforce for new uses."

This content was produced with the assistance of AI translation services.