SK Group posts record exports in first two months of year

SK Group, South Korea’s third largest conglomerate, posted record-high exports in January and February. Exports are likely to account for more than 70% of the firm’s sales this year. SK Group’s energy and chemicals’ subsidiaries, which include SK Energy, SK Global Chemical, SK Lubricants and SK Chemical, recorded an estimated 14.9 trillion won (US$13.2 billion) in sales. Exports grew by 36% from a year ago, reaching 10.6 trillion won (US$9.4 billion). The company expects first-quarter exports to near 16 trillion won (US$14.2 billion), which is nearly double the 8.9 trillion won (US$7.9 billion) of first quarter exports last year. Its yearly estimate is likely to surpass 60 trillion won (US$53.4 billion), representing more than 70% of total sales. (March 2, 2012)