KRX:096770

South Korean Shares Extend Gains for Fourth Day on Strong Chip Stock Performance

South Korean shares extended their winning streak to a fourth day on Wednesday, owing to gains by major semiconductor stocks after the tech-laden Nasdaq Composite closed at a record high overnight on Wall Street. The Nasdaq rose 0.45%, while the Dow Jones Industrial Average fell 0.36% and the S&P 500 declined 0.06% at market close on Tuesday.The Korea Composite Stock Price Index, or Kospi, increased by 63.01 points, or about 0.9%, to close at 7,080.92. The Kosdaq fell by 10.1 points, or 1.2%, to close at 844.48.Key chipmakers and market movers Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) added over 3% and 1%, respectively, at market close on Wednesday.In economic news, South Korea's consumer sentiment improved in August, with the Composite Consumer Sentiment Index rising 2.1 points to 106.6, according to data from the Bank of Korea on Wednesday.The reading compared with the 104.5 print recorded in the previous month, and against Trading Economics' 104.8 forecast.A reading above 100 indicates optimism, while a reading below suggests a deteriorating outlook.The sub-index for current living standards steadied at 92, while the consumer sentiment index for future conditions climbed to 98 from 97.Meanwhile, inflation expectations for the upcoming 12 months were unchanged at 2.7%.In corporate news, Posco Future M (KRX:003670) secured a supply contract of lithium iron phosphate (LFP) cathode materials for secondary batteries from SK Innovation (KRX:096770) subsidiary SK On, according to a Wednesday filing with the Korea Exchange.The contract, valued at 1.074 trillion won, is valid till Dec. 31, 2029.Shares of Posco Future M fell over 2% while those of SK Innovation added nearly 6% at market close.

Posco Future M Wins LFP Cathode Materials Supply Contract from SK On

Posco Future M (KRX:003670) secured a supply contract of lithium iron phosphate (LFP) cathode materials for secondary batteries from SK Innovation (KRX:096770) subsidiary SK On, according to a Wednesday filing with the Korea Exchange.The contract, valued at 1.074 trillion won, is valid till Dec. 31, 2029.Shares of SK Innovation added over 4% in recent trade.

SK Innovation to Lift Lock-Up Period for 18 Million Shares

SK Innovation (KRX:096770) said the mandatory holding period for over 18 million shares issued through a third-party allocated capital increase will expire on Sept. 5, according to a bourse filing on Wednesday.The shares are held by eight entities, including SK(KRX:034730), Double S Ever 2025, MS Partners First, and five other shareholders with varying allocations.This notice serves to inform investors of the upcoming free trading availability of these shares, previously restricted from sale since the capital increase decision announced on July 30, 2025.

SK Innovation to Absorb SK IE Technology to Cut Costs

SK Innovation (KRX: 096770) has agreed to merge with its battery separator subsidiary SK IE Technology (SKIET) in a bid to cut costs and reduce business risks, according to a Korea bourse filing on Wednesday.The transaction also aims to integrate overlapping management functions and secure stable production and supply of battery separators.The merger agreement was executed on Wednesday, though the completion date has not yet been set.

SK Innovation to Absorb Battery Materials Unit SK IET in KRW1.2 Trillion Merger

SK Innovation (KRX:096770) will absorb its 53.35%-owned subsidiary SK IET (KRX:361610) in a merger valued at 1.21 trillion won, according to a bourse filing on Tuesday.Under the merger, scheduled for Jan. 1, 2027, SK IET shareholders will receive 0.1174540 SK Innovation shares per SK IET share.The merger, which will dilute major shareholder SK Inc.'s stake in SK Innovation from 52.09% to 50.74%, aims to strengthen financial stability and enhance competitiveness in the EV battery separator market.An enterprise value of 21.3 trillion won was set for SK Innovation, and 1.21 trillion won for SK IET, with an estimated appraisal price of 14,620 won per share.An extraordinary general meeting will be held on Nov. 24 to approve the deal, with a provision allowing termination if appraisal rights exercised exceed 350 billion won.

HappyKium Excluded as SK Innovation Subsidiary After Merger Absorption

SK Innovation (KRX:096770) has excluded HappyKium from its list of subsidiaries following the company's absorption merger into HappyHanul, according to a bourse filing on Wednesday.SK Innovation held a 100% stake or 200,000 shares in HappyKium prior to the exclusion, with the equity value recorded at 1 billion won based on book value.The financial figures are based on HappyKium's 2025 standalone financial statements, and the asset percentage was calculated against SK Innovation's total assets of 34.006 trillion won as of end-2025.The exclusion took effect on Aug. 12, reducing SK Innovation's total number of subsidiaries from 30 to 29.

SK Innovation to Transfer Yongin Energy Project Assets to Joint Venture Affiliate

SK Innovation (KRX:096770) plans to transfer 320 billion won of assets and contracts related to its Yongin Integrated Energy project to Yongin Cogeneration Co., a special-purpose company to be established with Korea Midland Power, according to a Monday filing with the Korea Exchange.The South Korean energy and chemicals conglomerate said it and Korea Midland Power will each hold a 50% stake in the planned affiliate. The transfer is scheduled to take place in the second half of 2026 following the establishment of the special-purpose company.The transaction is intended to promote the project and is expected to reduce the company's tangible assets and transfer related contractual rights, while generating proceeds from the transfer.Shares of the company were down 2% in recent trade.

SK Innovation Books 1.22 Trillion Won Derivative Trading Loss in Q2

SK Innovation (KRX:096770) incurred a 1.22 trillion won non-operating loss from derivatives trading in the second quarter, equivalent to 3.34% of shareholders' equity.The company recognized the loss due to the fair value measurement of price return swap (PRS) contracts under Korean accounting standards, according to a Thursday Exchange filing.The company said the loss was primarily an unrealized valuation loss and did not involve any cash outflow.

SK Innovation Swings to Profit in Q2

SK Innovation (KRX:096770) posted a second-quarter profit attributable to shareholders of 215 billion won, compared with a loss of 772.2 billion won a year earlier, according to a Thursday exchange filing.Sales rose 50% year over year to 29.2 trillion won from 19.5 trillion won.The company posted operating profit of 3.49 trillion won, compared with an operating loss of 401.6 billion won a year earlier.

SK Innovation Acquires Coil BESS for 1.29 Billion Won

SK Inc. (KRX:034730) said its subsidiary SK Innovation (KRX:096770) added Coil BESS as a wholly owned subsidiary after acquiring a 100% equity stake in the energy storage systems company for 1.29 billion won, according to a Wednesday filing with the Korean Exchange.The acquisition, completed through a share purchase agreement, included a 658 million won payment for the shares and 632 million won for loan receivables and related rights, which will be converted into equity.The transaction increases its total number of subsidiaries to 30.

Nomura Upgrades SK Innovation to Neutral From Reduce, Adjusts Price Target to KRW118,000 From KRW90,000

SK Innovation (KRX:096770) has an average rating of overweight and mean price target of 145,615.39 won, according to analysts polled by FactSet.

Hanwha Upgrades SK Innovation to Buy from Hold; Price Target is KRW190,000

SK Innovation Returns to Profit in Q1

SK Innovation (KRX:096770) posted first-quarter net income of 964.4 billion won, compared with a net loss of 229 billion won a year earlier, according to a Wednesday filing with the Korea Exchange.The South Korean petroleum business company's sales rose 15% to 24.2 trillion won from 21 trillion won.Shares of the company rose nearly 1% at market close.

Pan Ocean Bags Long-term Cargo Transportation Contract from SK Innovation Subsidiaries

Pan Ocean (KRX:028670) secured a long-term cargo transportation contract from SK Innovation (KRX:096770) subsidiaries, SK Energy and SK Incheon Petrochem, according to a Monday filing with the Korea Exchange.The value of the contract, valid till April 28, 2030, remained undisclosed.Shares of Pan Ocean rose nearly 2% at market close.