SK E&S

SK E&S Chosen By the Ministry of SMEs and Startups As the First “Voluntary Business for Win-win Relationship 2.0” Will Lead SMEs and Small Business In Their Transition To Carbon Neutrality - On April 16, the company signed the first business agreement under “Voluntary Business for Win-win Relationship 2.0” with the MSS and Inobiz Association - Using the Win-win Cooperation Fund, SK E&S will identify and support promising SMEs and ventures in hydrogen economy, carbon neutrality and green new deal -“The company will lead ESG-driven management by building a safety net to grow together with SMEs, ventures and the local community”

 
SK E&S became the first to play the role of a top-notch assistant in “Voluntary Business for Win-win Relationships 2.0” organized by Ministry of SMEs and Startups (MSS).
 
SK E&S said it signed a business agreement for “Voluntary Business for Win-win Relationships”- whose primary goal is to create a hydrogen economy, achieve carbon neutrality and address local issues- with MSS and Inobiz Association at Korean Foundation for Cooperation of Large & Small Business, Rural Affairs located in Guro-gu, Seoul, on April 22. The signing ceremony was attended by CEO and President of SK E&S Choo Hyung-wook, Minister of the MSS Kwon Chil-seung, Chairman of the association Lim Byung-hoon and other key officials.
 
At the ceremony, the energy company, the ministry and the association pledged to work together in order to identify and foster innovative companies that will lead the efforts together to create a hydrogen economy and achieve carbon neutrality, to support promising small businesses and ventures in the green new deal sector, and to resolve challenges and issues the local community faces.
 
“Voluntary Business for Win-win Relationship” refers to a large business that shares its business infrastructure and know-hows with SMEs and small businesses, taking the initiative in supporting their growth. MSS has named 26 companies in total as “Voluntary Business for Win-win Relationships” since May, 2019.
 
Reorganizing its program into “Voluntary Business for Win-win Relationships 2.0”, the ministry especially has been looking for large businesses that can go beyond voluntarily seeking win-win relationships, providing substantial support for SMEs and small businesses in their efforts to achieve carbon neutrality and transition to ESG-driven management. As a leader in low-carbon green energy whose business in the sector includes low-carbon LNG, renewables and energy solutions, the private energy company was chosen by the MSS as the first partner of “Voluntary Business for Win-win Relationships 2.0.”
 
SK E&S plans to create 30 billion won of Win-win Cooperation Fund and carry out activities for win-win cooperation with the MSS including projects under the business agreement.
 
First, the company and the MSS will jointly identify small but strong Korean businesses in CCUS and innovative businesses in hydrogen economy, and support their R&D. Using its professional know-hows in operating business in the renewable and energy solution sectors, the company will find and grow startups while providing assistance for SMEs in related industries for gradual localization of materials, components and equipment needed for green power plants. 
 
As COVID-19 continues to spread disrupting local economy, they will grow social ventures and social enterprises as well to help the local community overcome the crisis brought by COVID-19 and to lay the groundwork for them to grow together.
 
“I’m proud that SK E&S was chosen by the MSS as the first business in ‘Voluntary Business for Win-win Relationships 2.0’ by being recognized for its commitment to green energy business and to building a safety net for the local community,” said President of SK E&S Choo Hyung-wook. He continued, “We will increase support for businesses in CCUS and hydrogen technology development and will do our best to help cooperation between large and small companies lead to ESG-driven management.”
 
“This agreement with SK E&S is the first case for a large company, SMEs and the MSS to cooperate to accomplish goals of ESG,” said Minister Kwon Chil-seung of the MSS. He added, “The ministry will not limit ‘Voluntary Business for Win-win Relationships 2.0’ to carbon neutrality and ESG but expand it to other areas such as Korean New Deal and assistance to small businesses for their recovery.”