SK Innovation has officially split off its battery business into a new company called SK On on Friday.
Its petrochemical business has also been split off into a new company called SK Earthon.
SK On’s first CEO will be Ji Song-seop, who led SK Innovation’s battery business.
Ji joined SK Group back in 1990 and had spent time in SK Telecom and SK Lubricants is known as a strategist.
He led SK Innovation’s battery business as president since 2019.
In a statement, SK On CEO Ji said the company will grow to become a leading company in the global electric market.
SK Earthon’s first CEO will be Myoung Sung, who led the petrochemical business at SK Innovation formerly.