South Korea’s SK Innovation Co. will expand its partnership with small- and mid-sized companies in establishing overseas manufacturing facilities to promote co-growth.

The country’s third largest battery maker said Wednesday that it will sign more deals with smaller partners in constructing factories overseas to contribute to expanding the local battery and material business market and improve the industry’s value chain through a level playing field. The company aims to grant more opportunities to small firms that have been denied in projects to establish battery or material manufacturing plants.

The company last month inked a deal worth 9 billion won ($7.5 million) with MAP Hanterin A&E Co. to design its U.S. factory. It is also set to strike another deal with the architectural engineering firm for construction of its new plant in Hungary. SK IE Technology Co., a subsidiary that was separated from SK Innovation last month, is also in talks with small- and mid-sized companies to seek help for the construction of a factory that will produce lithium-ion battery separators (LiBS) in Changzhou, China.

SK Innovation said it is looking for ways to grow together with SMEs to pay off their efforts in constructing and maintaining their factories around the world, which has led the company to secure world class competitiveness.

The company will continue to expand cooperation with SMEs to apply SK Group’s business model called Double Bottom Line that aims to promote both economic and social value in business operation.

By Kang Doo-soon and Choi Mira

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]