- Corporate News
SK Lubricants rebrands to SK Enmove
To emphasize its new identity as an “energy saving company,” SK Lubricants, which is part of the second largest South Korean conglomerate, SK Group, will change its name to SK Enmove effective December 1, 2022.
The company said the rebranding exercise will also strengthen its ability to execute its “financial story.”
SK Enmove conveys a new corporate identity beyond lubricants, the company says. The new name symbolizes the company’s move toward a cleaner, more environmentally friendly future. The name combines the prefix “en-” from environmental, ensuring, and enabling, with the word “move” for movement.
The new name conveys the company’s strong push to create a movement toward a sustainable future by connecting technology and the environment (Environmental Movement); a movement that guarantees a better convenient future with innovation-based technology (Ensuring Movement); and a movement that promises a happier future by realizing higher human potential (Enabling Movement).
“Ultimately, we will create a new identity as an ‘Energy Saving Company’ by continuing our innovation in both existing and new businesses under our new name, SK Enmove,” said Cha Gyu-tak, CEO of SK Lubricants. “We will further enhance the core competitiveness in our existing lubricants business and secure a solid position in new business areas, such as lubricants for electric vehicles and thermal management.”
SK Lubricants is the largest Group III base oil producer. The company says it “plans to further solidify its position in the global lubricant market by focusing on premium base oils that can improve vehicle fuel efficiency and contribute to reducing carbon dioxide emissions, as well as high-performance lubricant products with ultra-low viscosity.”
SK Lubricants aims to evolve by actively promoting new businesses that improve electrical efficiency. Specifically, the company plans to reduce unnecessary energy consumption by expanding the development and supply of lubricant products exclusively for electric vehicles. Additionally, it has invested in new businesses such as thermal management. In March 2022, it announced an equity investment of USD25 million in GRC Inc. (Green Revolution Cooling), a liquid immersion cooling solution provider for data centers based in Texas, U.S.A. As part of its investment, the two companies will jointly develop high-grade single phase immersion coolants and liquid immersion cooling systems for data centers, working together to drive rapid standardization and commercialization of these systems.