SK Materials changes its name to 'SK Specialty' and takes a new leap forward as an eco-friendly specialty gas and chemical company.

SK Materials announced on the 30th that it has changed its company name to SK Specialty.

The newly introduced company name, SK Specialty, embodies a strong determination to secure a leading position in the industry by expanding its business scope from a specialty gas company to specialty chemicals, and by strengthening its differentiated (Special) technology and (Specialist) capabilities.

To this end, the plan is to diversify the business portfolio from the existing business model centered on specialty gases for semiconductors and displays to include high-value-added product lines such as battery materials and wet chemicals.

Along with the name change, SK Specialty shared the direction of its new brand and the company's mid-to-long-term vision through a presentation of its Financial Story to its members.

First, in the Specialty Gas sector, SK Specialty’s core business, nitrogen trifluoride and tungsten hexafluoride, which hold the world’s number one production volume, are expected to achieve sustainable growth based on stable demand and cost competitiveness in line with the growth trend of the downstream market.The plan is to drive the market.

In addition, as monosilane is a key material for silicon anodes, which are attracting attention as a next-generation battery technology, production volume is also planned to be further expanded to keep pace with rapid market growth.

The high-performance wet chemical business will also be pursued in earnest.

Wet chemicals are cleaning and etching solutions used in semiconductor processes, and demand is rapidly increasing as semiconductor process technology advances.

Accordingly, SK Specialty plans to introduce a diverse range of new product lines to the market by 2025 by simultaneously securing additive technology and ultra-high purity purification technology for the commercialization of wet chemicals.

We are also accelerating efforts to strengthen our R&D and materials commercialization capabilities, which will serve as the foundation for the company's sustainable growth. In particular, centered around the Advanced Materials Sejong Campus opened this year, we are committed to securing next-generation technologies through basic (advanced) R&D and product development R&D across various materials.

Up to 3% of SK Specialty’s annual revenue is invested in SHE (Safety, Health, and Environment). In 2018, SK Specialty invested 46 billion won to extensively improve safety facilities and working environments within its factories. Moving forward, the company plans to further enhance its SHE standards by establishing a sophisticated system that prevents human error in advance and manages contaminants more efficiently, thereby establishing safety as a core part of SK Specialty’s culture.

SK Specialty aims to grow its revenue from around 600 billion won as of last year to over 1 trillion won by 2025 through continuous investment and growth in scale, including securing stable demand, strengthening cost competitiveness, and expanding its new portfolio.

We will also proactively respond to greenhouse gas and environmental issues arising from the increasing societal ESG demands on companies. The plan is to achieve a waste recycling rate of over 95% by 2023 and to simultaneously achieve Net Zero and RE100, as well as 100% wastewater recycling, by 2030, with the goal of proceeding without setbacks.

We are also improving working methods and environments to establish a culture of mutual growth based on trust between the company and its members. Our policy is to create a company where members can feel pride and a sense of fulfillment by providing compensation and working conditions commensurate with high performance, as well as supporting various programs designed to enhance the capabilities of individual employees.

SK Specialty CEO Lee Kyu-won stated, “The newly changed company name embodies the company’s long-term vision and aspirations to leap forward as a sustainable specialty gas and chemical enterprise,” adding, “Through the setting of more proactive goals, we will not rest on our current laurels but move forward to be reborn as a company that meets the needs of society and customers.”

Meanwhile, SK Materials, a company specializing in advanced materials investment, is leading the growth of the materials sector through a total of eight investment companies, including SK Specialty, which recently changed its name, as well as SK Showa Denko, SK Trichem, SK Materials Air Plus, SK Materials Performance, SK Materials Renewtech, SK Materials JNC, and SK Materials Group 14.