SK Group's manufacturing exports hit new high in H1

SEOUL, Aug. 3 (Yonhap) -- SK Group, one of South Korea's leading conglomerates, said Wednesday that exports of its manufacturing affiliates reached a record high in the first half, helped by strong overseas sales of oil products.
The group, which has South Korea's largest oil refiner and other chemicals and energy companies under its wing, said the combined exports of its manufacturing units stood at 18.18 trillion won (US$17.16 billion) in the January-June period, up 29.8 percent from a year earlier.
SK's manufacturing wings include SK Innovation Co., SK Energy Co., SK Global Chemical Co., SK Lubricants Co., SKC Inc. and SK Chemicals Co.
The subsidiaries posted combined revenues of 28.41 trillion won in the first half of the year. Sixty-four percent of its revenues were produced in overseas markets, compared with 50 percent in 2006.
Export growth was attributed to higher overseas demand for petroleum products as well as improved sales of polyester films, the group said.
SK Group predicted that its manufacturing exports will likely surpass 40 trillion won for the first time this year if overseas demand for petroleum products continues to rise for the rest of the year.
The group has been trying to diversify its business portfolio, which relies heavily on domestic demand.