SK On Seeks $1.5 Billion for Overseas Expansion
February 20, according to the South Korean Economic Daily, South Korean battery manufacturer SK On is seeking to raise as much as 2 trillion Korean won ($1.5 billion), with the funds mainly earmarked for the construction and expansion of overseas facilities. The company recently issued a tender to several global investment banks. SK On was spun off from SK Innovation in October last year. Its clients include Ford, Hyundai, and Volkswagen, and it has production bases in the United States, South Korea, China, Hungary, and Turkey.
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