SK E&C has been growing steadily and gaining a solid reputation for providing civil, transportation, telecommunication infrastructure, and building solutions since its foundation in 1977. After SK Group’s acquisition of our Ulsan refinery and petrochemical complex in 1980, we also began to grow process and power plant EPC capabilities to support our rapid expansion of the Ulsan complex. Based on our successful project execution experience in Korea, SK E&C started expanding global presence in the 90’s and has accelerated its global growth exponentially in the past decade.
We repeatedly deliver landmark projects that exceed our customer’s expectations. As a result, we have gained the full satisfaction and trust of major customers in the Middle East, South East Asia and Latin America. Our recent global success stories include many multi-billion dollar EPC projects for oil refining, gas processing, and power plants, unique development projects for eco-friendly buildings, and large infrastructure projects for national economic development. Many of our projects have been completed substantially ahead of schedule with excellent quality and unprecedented safety records.
Our differentiating capabilities are built around our unique Total Solution Provider (TSP) business model, which includes conceptualization, financing, basic engineering, feedstock and off-take arrangements as well traditional EPC, PM, and O&M services. We have applied this model successfully to many projects globally and firmly intend to solidify our position as a global leader and role model for value creation. In order to sustain our growth and globalization drives, we will continue to undertake significant initiatives to expand global market presence, develop new product and service offerings, improve core TSP business processes and systems, and, most importantly, attract and develop top talents globally.
In addition, we will continue to expand our social services to fulfill our corporate social responsibilities (CSR) in our global communities. Our “Happy Green School” program in Korea where many of our members work as one-day teachers to educate our children on the importance of environmental protection, energy conservation, and sustainable growth is just one example. SK E&C members also provide financial support to the underpriveledged in Houston and in Seoul as part of our “Hope Maker” program. In Ecuador, we have been working with the local government to provide education and social support services to young children and high school students in the state of Esmeraldas. Through exemplary CSR programs like these, SK E&C is carrying out its mission of “Building Greatness: A Great World and Great Lives.”
In closing, we appreciate the interest and trust of our customers and the future members of SK E&C. We will continue to deliver the differentiating values of our key stakeholders, and to improve the quality and living standards of our global communities, and the prosperity and happiness of our customers, business partners, shareholders, and family members.