1. SK Inc. ByJosie Patra July 4, 2022 Image source: Sundry Photography/Shutterstock.com Article Overview    About Company The Company Leadership Further Reading About Company SK Inc. is the holding company of the SK Group, a South Korean multi-industry company or conglomerate with multiple business entities under its fold. Typically, SK Inc. belongs to the class of chaebols or family- run and controlled industrial conglomerates. The group is the second-largest chaebol in the country. Under

2. its fold, the group has hundreds of subsidiary companies that uphold the SK brand name and practice the indigenous management culture known as SK Management Systems or SKMS. The SK Group has its headquarters in Seoul and, until 1997, operated under the Sunkyong Group. However, the conglomerate has its roots in Sunkyoung Textiles, the first acquisition of the current founders in 1956. AT the time of establishing Sunkyoung Textiles, the country was under Japanese rule, and the company was a joint venture with the Kyoto Textile Company based in Kyoto, Japan. The company achieved a milestone in 1958 by manufacturing polyester fiber for the first time in Korea. Spotting the enormous growth potential of polyester fibers, the company wanted to capitalize on the growth potential. In July 1969, SK Group formed a separate company for producing original yarn. The move signaled the group’s vision to diversify its business to tap the growth potential in many other fields. To create a diversified business portfolio, SK Group entered the Oil sector by establishing a company named Sunkyong Oil in 1973. Thus began the new journey of the SK Group, which considers itself an investment specialist with the sole aim of keeping stakeholders happy. The group identifies potential growth areas for investment and keeps growing the enterprise value through effective portfolio management.

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