SK Incheon Petrochem

Name

SK Incheon Petrochem

Legal name

SK Incheon Petrochem Co., Ltd.

Website

https://skincheonpetrochem.com

Company type

Private

Founded year

1969

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Petroleum Refining & Petrochemical Manufacturing

NAICS

Petrochemical Manufacturing (325110), Petroleum Refineries (32411), Cyclic Crude, Intermediate, and Gum and Wood Chemical Manufacturing (325194)

SIC

Petroleum Refining (2911), Industrial Organic Chemicals (2860)

akta.pro primary industry

Naphtha & Reformate Feedstocks (EUALAHAB)

akta.pro secondary industries

Biofuels & Renewable Fuels Switching (Biomethane/RNG, Bio-oils, Sustainable Biomass) (EUABAJAD), Syngas & Hydrogen Feedstocks (SMR/ATR, Refinery/Petrochem H2) (EUALAHAE), Steam Cracking & Feedstock Flexibility Services (Cracker optimization, feed switching, co-product recovery) (EUALAHAJ)

Keywords

• Petroleum refining
• Petrochemical manufacturing
• Aviation fuel supply
• Marine bunkering
• Aromatic chemicals

Headquarters

HQ city

Incheon

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D

Revenue model

1. Petroleum Products: Refining crude oil to produce LPG, gasoline, jet fuel, diesel fuel for domestic and commercial consumption. Products include premium gasoline with detergent additives (Clean-Up, Drive-Up), kerosene, diesel, LPG (propane and butane), and marine fuel oil (VLSFO compliant with IMO 2020 standards)
2. Petrochemical Products: High-value-added aromatic chemicals including benzene (raw material for styrene monomer, caprolactam, medical and agrochemical products) and para-xylene (raw material for PTA used in polyester production) derived from naphtha through catalytic reforming process
3. Aviation Fuel: Jet A-1 fuel supply to major domestic and international airlines through multiple supply models (Into Plane, Ex-Hydrant, Into-Storage) via underground pipelines connected to Incheon and Gimpo International Airports
4. Marine Fuel: Marine fuel products including LSFO (Low Sulfur Fuel Oil), MGO (Marine Gas Oil), and B30 (Bio Marine Fuel) supplied at major West Coast Korean ports. B30 is Korea's first bio-blended marine fuel for ESG initiatives
5. Green Business: Renewable products from waste tires and plastic pyrolysis oil, organic waste to energy, bio-fuel production hub, and hydrogen supply for hydrogen economy in Seoul and metropolitan area

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

SK Incheon Petrochem is a petroleum refining and petrochemical manufacturer operating a 275,000 barrels-per-day integrated facility in Incheon, South Korea. It refines crude oil into gasoline, kerosene, jet fuel (Jet A-1 and JP-8), diesel, LPG, and marine fuel (VLSFO, MGO, B30), and converts naphtha into aromatic chemicals including benzene, toluene, mixed xylenes, and para-xylene. The Green Biz segment supplies renewable products from waste tire/plastic pyrolysis oil, organic waste-to-energy, B30 bio-marine fuel, and byproduct hydrogen.

Product overview

SK Incheon Petrochem is a petrochemical and refining company that operates across three main business segments: Petroleum Business, Chemical Business, and Green Biz. The Petroleum Business produces and supplies gasoline, kerosene, jet fuel, diesel, LPG, and marine fuel oil through atmospheric distillation and various refining processes. The Chemical Business converts naphtha into high-purity aromatic products including benzene and para-xylene (PX) through catalytic reforming. The Green Biz segment represents strategic growth initiatives including organic waste-to-energy, recycling pyrolysis oil from waste tires and plastics, biofuel production (including B30 bio-marine fuel), and hydrogen supply for the hydrogen economy. The company positions itself as a 'Green Energy Provider' transitioning from traditional refining toward carbon-neutral operations.

Differentiator

Problem solved

Functional benefit

Products and services

• Gasoline Gasoline is a petroleum-derived volatile liquid fuel featuring Clean-Up detergent additive that reduces carbon deposits on intake valves and Drive-Up additive that prevents knocking and protects engines. Sold into the Korean domestic fuel market via direct enterprise distribution.
• Kerosene Highly refined kerosene with no impurities and excellent combustion capabilities, suitable for small-sized heaters or boilers at home, with optimal flash point, smoke point, and color properties.
• Diesel Diesel fuel for diesel engines with excellent ignitability, optimal viscosity and lubricity, adequate distillation properties for good combustion and high thermal efficiency, and great fluidity at low temperatures.
• LPG (Liquefied Petroleum Gas) Clean LPG with excellent combustibility available as propane (used for heating/cooking at houses and restaurants) and butane (used for indoor cabinet heaters, automobile fuels, and portable gas ranges).
• Jet Fuel (Jet A-1 and JP-8) Jet fuels for commercial aircraft (Jet A-1) and military aircraft (JP-8) maintaining reliable performance under extreme environmental changes such as sudden drops in external pressure or temperature.
• Marine Fuel Oil (VLSFO) High-quality Very Low Sulfur Fuel Oil (VLSFO) fully meeting IMO 2020 standards by blending low-sulfur crude oil, produced in compliance with the international 0.5% sulfur content limit for bunker C oil.
• Marine Fuel Portfolio (LSFO, MGO, B30) Reliable marine fuel supply including LSFO (Low Sulfur Fuel Oil) for main engines, MGO (Marine Gas Oil) for auxiliary engines and in-port generators, and B30 Bio Marine Fuel for ESG initiatives and carbon reduction goals.
• Aviation Fuel Supply (Into Plane, Ex-Hydrant, Into-Storage) Jet A-1 aviation fuel supplied through underground pipelines directly connected to Incheon and Gimpo International Airports, offering Into Plane, Ex-Hydrant, and Into-Storage supply models with exceptional safety and operational reliability.
• Benzene Benzene produced from reformate naphtha along with toluene and xylene, used as raw material for styrene monomer, caprolactam, medical and agrochemical products.
• Para-Xylene (PX) Para Xylene produced by adsorption separation of mixed xylene distillate, mainly used for the production of PTA (Purified Terephthalic Acid), the raw material of polyester.
• Aromatics (BTX) High-purity aromatic products including benzene, toluene, and xylene produced through reformer process from naphtha oil, with rigorous quality control measures.
• Green Biz — Organic Waste to Energy Renewable energy production using organic waste resources such as livestock manure, contributing to resource circulation and sustainability.
• Green Biz — Recycle (Pyrolysis Oil from Waste Tires and Plastics) Producing renewable products from waste tires and waste plastic by utilizing pyrolysis oil technology.
• Green Biz — Hydrogen Supply Supply of byproduct hydrogen contributing to the vitalization of the hydrogen economy in Seoul and the metropolitan area.

Quantifiable outcome

• B30 bio marine fuel delivers approximately 30% lower carbon emissions than conventional marine fuel
• +5 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Three partnerships are on record, tiered minor.

• LD CarbonminorStrategic or Co-development Partner · 1 January 2023Investment in LD Carbon, a startup with waste tire pyrolysis technology. This partnership supports SK Incheon Petrochem's green business initiatives in waste tire recycling and pyrolysis oil production for renewable products.
• Ministry of Agriculture, Food and Rural Affairs and Nonghyup Economic HoldingsminorStrategic or Co-development Partner · 1 January 2023Joint 'Pilot Project to Build an Eco-Friendly Livestock Farming Model' combining expertise in agriculture, food, rural affairs with economic holdings to create sustainable farming solutions.
• Incheon Chamber of Commerce and IndustryminorOthers · 1 January 20221% Happiness Sharing Fund designated contribution to Incheon Social Welfare Joint Donation Fund for community welfare and social safety net programs including medical expenses for vulnerable populations and local welfare facilities support.

Scale indicators10 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• SK Energy: Sister subsidiary within SK Innovation and the largest refiner in South Korea; operates a similar petroleum-to-aromatics chain (gasoline, diesel, jet, LPG, BTX) with Ulsan complex assets and competes directly with SK Incheon Petrochem in domestic fuels and aromatics supply.
• GS Caltex: Private Korean refiner owned by GS Energy and Chevron; runs atmospheric distillation, aromatics, and petroleum product supply directly competing with SK Incheon Petrochem in the Korean domestic market for fuels and petrochemical feedstocks.
• Hyundai Oilbank (HD Hyundai Oilbank): Daesan-based Korean refiner with petroleum and petrochemical operations; competes head-to-head with SK Incheon Petrochem in domestic fuels and is an integrated aromatics producer with comparable product slate.
• S-Oil: Onsan-based Korean refiner and aromatics/petrochemicals producer partially owned by Saudi Aramco; runs a comparable crude-to-aromatics configuration and is a direct competitor in domestic petroleum products and para-xylene supply.

Emerging players

• Hanwha Total Petrochemical: Korean producer of ethylene, propylene, and aromatics; overlaps with SK Incheon Petrochem in the aromatics value chain and represents a regional competitor for para-xylene and benzene supply.
• Lotte Chemical: Korean petrochemicals producer of olefins, polyolefins, and aromatics derivatives; is a downstream customer and partial competitor to SK Incheon Petrochem's aromatics output feeding PTA and polyester chains.

Broad incumbents

• Idemitsu Kosan Co., Ltd. Major Japanese integrated refiner and petrochemicals producer; comparable in petroleum-to-aromatics operations and competes regionally in marine and aviation fuel supply to East Asian ports.
• Cosmo Energy Holdings: Japan-listed refiner/petrochemical holding (incl. Cosmo Oil) running integrated crude-to-aromatics operations; overlap with SK Incheon Petrochem in fuels, marine fuel, and petrochemical feedstock markets in East Asia.
• Formosa Petrochemical Corporation: Taiwan-listed integrated petrochemicals producer with naphtha cracking and aromatics; competes with SK Incheon Petrochem for para-xylene and benzene customers across Asia.
• Repsol (Refining): Global integrated energy company with European refining and petrochemicals exposure; comparable at the level of naphtha-based aromatics and low-carbon fuel strategies (biofuels, hydrogen, refining decarbonization).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/SkIncheonpetrochemistry
• LinkedInlinkedin.com/company/sk-incheon-petrochemical-co-ltd-

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SK Incheon Petrochem