''SK Road'' to Be Named in Hungary

SEOUL -- SK On, a leading global electric vehicle battery and trading company, announced that the road that that connects one of the Hungarian plants with the nearby town, Ivancsa, has been officially renamed as ''SK road’ (SK út) in recognition of the company’s role and presence in the region.

Located in Iváncsa, Fejér County, the newly named road spans approximately 1.8 km, extending from the entrance of the Iváncsa Industrial Complex to SK On''''s Iváncsa facility. This road also connects the plant to Hungary''''s capital, Budapest, via the M6 motorway.

SK On Hungary held a ceremony on November 12, attended by key local figures, including Tibor Molnár, Mayor of Iváncsa, and Sejin Kim, Managing Director of SK On Hungary.

“It is a great honor and privilege to officially name the public road leading to and running around our factory ''SK út,'' with the trust and support of the community,” said Sejin Kim, Managing Director of SK On Hungary.

"From the very beginning, we have regarded Iváncsa and the surrounding region as our home. We deeply value the talent and expertise of the people here, and we believe in the strength of cooperation and partnership.”

Following the ceremony, attendees took a firsthand look at the advanced battery manufacturing process at the Ivancsa plant.

“I am very pleased to be invited to this meaningful naming ceremony and factory tour. As the largest company in the region, SK On Hungary plays a pivotal role not only in Iváncsa but also in the greater Dunaújváros area,” said Molnár Tibor, Mayor of Iváncsa. “We will continue to do our utmost to foster a strong relationship with SK On, and I believe this event marks a new milestone in that journey.”

The Iváncsa plant is SK On''s third battery production facility in Hungary, following the first (7.5GWh) and second (10GWh) plants in Komárom. The investment decision for this third plant was made in January 2021, with construction beginning in the third quarter of the same year. Mass production commenced in the second quarter of 2024.

The Iváncsa plant has an annual production capacity of 30GWh, significantly increasing SK On''s total battery production capacity in Europe to 47.5GWh.

The Iváncsa facility is equipped with cutting-edge machinery and advanced automation systems, while also incorporating the manufacturing expertise from its Komárom plants. As a result, the Iváncsa plant achieved a production yield exceeding 90% within just three months of mass production, reaching the level of early stabilization. Typically, a new facility requires around six months to stabilize, meaning the ramp-up period at Iváncsa was halved.

SK On has been actively supporting the local community to foster mutual growth. In 2021 and 2022, the company donated a total of 15 million forint to the local public foundations in Iváncsa. These funds were used to enhance the urban environment, upgrade school facilities, revitalize local events, and provide essential supplies to vulnerable residents.

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