Photo = Yonhap news

 

 

[Alpha Biz= Kim Jisun] On May 29, SK Innovation (KRX: 096770) issued a regulatory filing denying recent media reports that its battery subsidiary, SK On, is pursuing a merger and IPO with POSCO Future M (KRX: 003670).



In the filing, SK Innovation stated, “The rumors of a merger between SK On and POSCO Future M are not true.”



Earlier in the day, a local media outlet reported that the two companies were exploring a merger to create a vertically integrated battery value chain — from raw materials to cell production — aimed at enhancing business competitiveness.



POSCO Future M also issued a statement firmly denying the speculation, saying, “We would like to clarify that the merger rumors with SK On are not based on fact.”



Both companies emphasized that there are no ongoing discussions or plans regarding a merger at this time.

 

 

 

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