SK E&C has been growing steadily to gain solid reputation for providing civil, transportation, and telecommunication infrastructure as well as building solutions since its foundation in 1977. After SK Group’s acquisition of the Ulsan refinery and petrochemical complex in 1980, we also began to grow process and power plant EPC capabilities to support rapid expansion of the Ulsan Complex. Based on the successful project execution experience in Korea, SK E&C started expanding global presence in the 90’s and accelerated its global growth exponentially in the past decade.
Recently, we have delivered many landmark projects to exceed customer expectation repeatedly. As a result, we have gained full satisfaction and trust of major customers in 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 projects have been completed substantially ahead of schedule with excellent quality and unprecedented safety records.
Our differentiating capabilities are built around the unique business model, called “Total Solution Provider (TSP),” 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 in expanding global market presence, developing new product and service offerings, improving core TSP business processes and systems, and, most importantly, attracting and developing top talents globally.
In addition, we will continue to expand our social services to fulfill our corporate social responsibilities (CSR) to our global communities. As an example, many members in Korea are participating in the “Happy Green School” program as one-day teacher to educate our children on the importance of environmental protection, energy conservation, and sustainable growth. SK E&C members are also participating in the “Hope Maker” program to provide financial support to the underprivileged in Houston as well as in Seoul. 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 these kinds of exemplary CSR programs, SK E&C is trying to carry out its mission for “Building the Great: Great World and Great Life.”
In closing, we once again appreciate the interest and trust of our customers and future members of SK E&C. We will continue our endeavor to create and deliver the differentiating values to our key stakeholders, improve quality and living standards of our global communities, and do both from the perspectives of enhancing prosperity and happiness for our customers, business partners, shareholders, and our family members.