SK ecoplant aims to become Asia's top eco-friendly firm
SK ecoplant CEO Ahn Jae-hyun announced the company's name change from SK E&C to SK ecoplant via a video disseminated to employees on Monday. Courtesy of SK ecoplant
By Kim Jae-heun
SK Group's construction firm, formerly known as SK E&C, has changed its name to “SK ecoplant” and revealed its new goal to become Asia's top environmental enterprise on Monday. The new name was confirmed at an extraordinary general meeting for shareholders last Friday.
SK ecoplant is a compound word made up of the words, “eco” and “plant.” The name communicates the company's desire to plant eco-friendly ideas and innovative technologies for the Earth.
The construction firm has been emphasizing the importance of environmental projects to protect the planet and create new economic and social value.
SK ecoplant will adopt environmental, social and corporate governance (ESG) principles as the new core values of the company, while trying to develop new environmental and energy businesses that contribute to the circular economy.
SK's eco-friendly scheme will lead the downstream sector businesses of incineration and landfill processing, including water treatment, utilizing EMC Holdings, which it acquired last year. It will review the new development of industrial complexes, as well as mergers and acquisitions with technical innovation enterprises.
SK ecoplant plans to improve its productivity by adopting artificial intelligence and digital transformation technology in the eco-friendly fields, as well as work to produce construction materials through environmentally friendly methods as much as possible.
The construction firm will cooperate with the government to revitalize the 3R (Reduce, Reuse and Recycle) plan, as it is important for the upstream sector businesses of waste collection, classification and disposal.
Its new energy business initiative aims to accelerate the supply of renewable energy and contribute to the group's goal of achieving net zero carbon emissions by pushing forward its hydrogen fuel cell, RE100 (Renewable Energy 100 percent, or the initiative to source all electricity from renewable energy) and offshore wind power businesses.
Furthermore, SK ecoplant will acquire firms in the green technology field around Asia, expanding its green business across the region and becoming the leader in the field. The company said that it will invest a total of 3 trillion won ($2.66 billion) by 2023 in the field.
“We plan to practice eco-friendly ideas and create innovative technologies through our new mission,” SK ecoplant CEO Ahn Jae-hyun said.