SK Innovation and SK E&S have announced a merger to create a comprehensive energy company covering various sectors like hydrogen, renewable energy, batteries, and LNG. The merger, set to be finalized after a general shareholders' meeting, will result in the formation of the largest private energy company in the Asia-Pacific region. The integration is seen as a strategic move to boost the competitiveness of both companies and revive SK On, a subsidiary of SK Innovation. Among the key objectives of the merger are to respond actively to environmental changes, achieve sustainable growth, and enhance the financial structures of the involved entities. The merger ratio between SK Innovation and SK E&S has been determined, with SK Innovation issuing new merged shares to SK E&S Co., Ltd. The move is expected to provide additional funds to SK On, leading to improvements in its financial standing and facilitating further investments. Company executives have expressed optimism about the merger, emphasizing the potential for synergies and the opportunity to become a leading 'total energy and solution company.' Additionally, the consolidation of SK On, SK Trading International, and SK Ent. is projected to bolster the financial structure of SK On, enabling enhancements in profit structures and operational efficiency in various energy sectors.