SK Group said on Nov. 1 that its eight affiliates will join 'RE100' for the first time in Korea. The eight companies include SK Corp., SK Telecom, SK Hynix, SKC, SK Siltron, SK Materials, SK Broadband.
Meanwhile, SK ie technology will submit its applications to the RE100 Committee of Korea on Nov. 2.
‘RE100' stands for 'Renewable Energy 100%. This means that a company will mobilize 100% of its electricity it will use with renewable energy sources such as wind and solar power by 2050.
SK E&S, SK Energy, SK Gas and other non-subscribed companies are planning to expand their use of renewable energy with their own goal of equivalent to RE100.
Chairman Chey Tae-won has been emphasizing ESG for fundamental innovation in the group's business. Chey once mentioned at the 2018 group CEO seminar, "We should prepare specific strategies such as technology development for eco-friendly transformation."
At the CEO seminar held in October, he also called for all related companies to steadily pursue eco-friendly efforts to suit their respective businesses. In an e-mail sent to all employees in September, Chairman Chey also expressed his intention to use ESG as a new pillar of corporate management.
The eight companies plan to increase the percentage of renewable energy use through various methods the government is preparing to implement in the future.
SK Group said that it expects to secure trust from the market and society as 'the world's best ESG practice company' and to take a step ahead in terms of strengthening supply chain management of global companies such as the U.S. and Europe.
Lee Hyung-hee, chairman of the SK SUPEX Pursuit Council, said, "It is meaningful that Korean companies will also participate in the eco-friendly trend of reducing carbon emissions to solve global problems such as abnormal weather conditions."