SK Innovation, SKIET to hold shareholder briefings on merger Monday, Tuesday

SK Innovation and SK IE Technology (SKIET), which are pushing ahead with their merger, will hold an in-person shareholder briefing Tuesday. The session is an additional event following a shareholder briefing already held Wednesday, part of the companies' plan to strengthen communication with retail shareholders.

The two companies plan to meet shareholders directly over two days to explain the merger and hear their feedback.

SK Innovation said Wednesday that it will hold a shareholder briefing on the merger for its own shareholders at 3 p.m. Tuesday at the FKI Tower Conference Center in Yeouido, Seoul.

SKIET said it would hold its own briefing for its shareholders at 5 p.m. the same day at a conference room of Korea Investment & Securities in Yeouido.

The two companies also plan to hold shareholder briefings Monday. SK Innovation will host its session at 3:30 p.m. at Two IFC in Yeouido, while SKIET will hold its briefing at 5 p.m. at Korea Investment & Securities, also in Yeouido.

Over the two days, the companies will meet retail shareholders directly to explain the merger and hear their views. The briefings will also be livestreamed via webcasting on each company's website.

At each session, the companies plan to explain the background and key details of the merger, their post-merger business direction, and the expected improvements to their financial structure and business synergies. A question-and-answer session will follow, during which the companies will hear shareholders' views and respond directly to their questions.

The additional briefings were arranged to make it easier for retail shareholders to take part and to strengthen communication with them. Since deciding to pursue the merger, the two companies have held online briefings for retail shareholders, investors, analysts and media to explain the rationale and expected benefits of the deal.

"We plan to fully explain the rationale and expected benefits of the merger to shareholders and hear a wide range of opinions directly from them," an SK Innovation official said. "We will continue to actively communicate with shareholders throughout the remainder of the merger process."