SK On to merge with SK Enmove.

SK On, a company specializing in electric vehicle and energy storage batteries, agreed to merge with SK Enmove, a specialist in lubricants and lube base oil for the automotive industry. Financial terms were not disclosed. “With the expected synergies from the merger, including the integration of both companies’ technological and business capabilities, we anticipate showcasing a higher level of competitiveness in the global market,” Lee Seok-hee, SK On CEO.