Shares of SK Innovation surged in early trading on Thursday following its disclosure that it is considering merging with SK E&S.
The stock shot up by 15.47 percent as of 10:33 a.m. to reach 121,700 won ($88).
The petrochemical affiliate of SK explained in an electronic disclosure that it is considering merging with another energy affiliate, SK E&S, although nothing has been decided yet.
The statement was released after multiple local media reports suggested that the two affiliates — whose combined asset size exceeds 100 trillion won — would merge.
SK Group is trying to restructure its businesses amid mounting losses and debts, mainly incurred by a downturn in EVs and semiconductors.
![The headquarters of SK in central Seoul[YONHAP]](https://image.koreajoongangdaily.com/11669222.webp?imageId=11669222&width=960&height=588&format=jpg)
