SK Innovation and SK E&S announce merger

SK Innovation and SK E&S, two major energy subsidiaries of South Korea's SK Group, announced that they will merge. Both parties have held their own board meetings and voted to approve the merger plan. The merger ratio is about 1:1.19. It is expected that after the merger, the new company will become a super-large energy enterprise with a sales scale of nearly 90 trillion won and total assets of 106 trillion won.