SK Group hit record exports of some 45.5 trillion won last year, taking up more than 60 percent of its sales for the first time after a decade of efforts to turn into an export-driven conglomerate.

The combined estimated sales of SK companies last year amounted to 72.3 trillion won, up 48.5 percent from the year before.

The nation’s third largest conglomerate by asset value saw its annual exports jump 57.6 percent last year. The share of exports in sales gained 3.6 percentage points to 62.9 percent.

Once the ongoing acquisition of Hynix Semiconductor Inc. is over, SK Group’s exports are projected to top 55 trillion won and account for 70 percent of its sales.

Hynix logged 11.6 trillion won in exports in 2010, which accounted for 96.9 percent of its sales.

SK’s manufacturers are expected to continue export growth as they boast cutting-edge technological power with the world’s best refining capabilities and the biggest market share in high value-added polyester films.

SK plans to expand factories for chemicals, lubricants, optical films and energy

SK Lubricants Co. signed a preliminary deal late last year to complete a joint venture plant in Spain by 2014 that can produce up to 12,000 barrels of lubricating base oil a day.

Considering that Europe covers 40 percent of the global demand for Group III base oils, SK Lubricants expects the planned factory in Spain to help widen its market share.

SK Global Chemical Co. has agreed with Japan’s JX Energy to build a plant in Ulsan, South Gyeongsang Province, to produce a million tons of paraxylene annually starting 2014.

SK affiliates are speeding up their drive to boost exports at the instruction of chairman Chey Tae-won, an SK Group official said.

“The affiliates are also stepping up global management through various models of cooperation such as package deals and partnering,” he said.

Global management has been Chey’s key policy even since he took helm of SK in 1998.

Exports accounted for a mere 30.8 percent of SK manufacturers’ sales in 1997.

The share grew to 50.3 percent in 2006 as SK bolstered its global business strategies and broke the 60 percent mark five years later.

By Kim So-hyun
(sophie@heraldcorp.com)