# Who does SK Innovation (SK On) pay? Who are its key suppliers?
Canonical: https://valuechain.wiki/sk-innovation · Facet: suppliers · Updated: 2026-09-11T22:25:34.668996+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: SK Innovation (SK On)'s confirmed suppliers/cost counterparties include SKIET, 엘앤에프, 에코프로비엠 plus 8 undisclosed/aggregate relationships. Per the valuechain.wiki graph: 11 cost edges, backed by 19 dated sources, 3 of them primary filings (as of 2026-09-11).

### SKIET (high)  → /skiet.md
- metric: Market share 70% · 역사적 · SKIET sales share to SK On
- note: SK Innovation's in-group separator subsidiary. SK On sources LiBS separators from SKIET, which historically derived ~70% of sales from SK On.
- [confirms] Business Post (KO, news, published 2024-05-01) https://www.businesspost.co.kr/BP?command=article_view&num=420621: "SKIET depended on affiliate SK On for 70% of sales"
- [confirms] SK Innovation Newsroom (KO, ir, published 2024-04-01) https://skinnonews.com/archives/122554: "supply separator base film for up to 300,000 EVs in North America"

### 엘앤에프 (high)  → /landf.md
- metric: Contract value ₩13.2T · 2024~2030 · high-nickel cathode supply contract
- note: Long-term high-nickel cathode supplier to SK On. The FY2025 annual report presents the relationship via a KRW 13.19tn contract signed in 2024 through end-2030, extending an earlier KRW 1.22tn contract from 2021.
- [confirms] L&F (KO, filing, published 2026-03-17) https://file.irgo.co.kr/data/IRPAGE/BIZ_REPORT/8f915e2b-f173-476f-bb25-e85755cd08a1.pdf: "SK On ... high-nickel cathode supply contract ... 2024-03-25 ... 6 years 7 months ... 13,191,047,267 (KRW thousand)"
- [confirms] Dealsite (KO, news, published 2024-06-10) https://dealsite.co.kr/articles/107517: "signed a KRW 1.2176tn NCM cathode contract, expiring end of this December"

### 에코프로비엠 (high)  → /ecopro-bm.md
- metric: Contract value ₩10.1T · 2024~2026 · high-nickel NCM cathode supply
- note: A top cathode partner of SK On. Supplies KRW 10.11tn of EV high-nickel NCM cathodes for 2024-2026 and is also building a Canadian cathode JV with Ford for the North American supply chain.
- [confirms] EcoPro BM (KO, filing, published 2025-11-14) https://kind.krx.co.kr/external/2025/11/14/000821/20251114001819/11013.htm: "Purpose: EV high-nickel NCM cathode sales contract / term: 2024-01-01 to 2026-12-31 / contract value: KRW 10,110,232,000,000"
- [confirms] Dealsite (KO, news, published 2024-06-10) https://dealsite.co.kr/articles/107517: "for 2024–2026 will supply ~KRW 10.11tn of cathode, quadruple the prior period"
- [confirms] Electric Times (KO, news, published 2023-08-01) https://www.electimes.com/news/articleView.html?idxno=307007: "co-invest to build cathode production facilities in North America"
- [confirms] KED Global (EN, news, published 2023-03-23) https://www.kedglobal.com/batteries/newsView/ked202303230027: "EcoPro will make cathodes with precursors from the Korean factory and supply them to SK On’s battery factories around the world."

### SK아이이테크놀로지(SKIET) (mid)  → /skiet.md
- metric: Market share 80% · FY2024-2025 · Approximate SK On share of SKIET revenue
- note: SK On sources battery separators from sister company SKIET, which takes about 80% of SKIET's revenue.
- [confirms] Businesskorea (EN, news, published 2025-02-05) https://www.businesskorea.co.kr/news/articleView.html?idxno=234897: "About 80% of SKIET's revenue goes to SK On, and the company is diversifying to reduce that dependence."

### 엔켐 (mid)  → /enchem.md
- note: Korea's top electrolyte maker; expanding electrolyte supply to SK On's US plants, scaling its Georgia plant from 40kt to 200kt/yr.
- [confirms] TechWorld (EPNC) (KO, news, published 2026-04-06) https://www.epnc.co.kr/news/articleView.html?idxno=330836: "Enchem's Georgia plant began first electrolyte deliveries to SK On's Georgia plant."
- [confirms] TheElec (KO, news, published 2024-12-01) https://www.thelec.kr/news/articleView.html?idxno=25553: "From its Georgia plant Enchem supplies electrolyte to major global battery makers including Tesla, SK On and Ultium Cells."
- [confirms] Enchem (KO, filing, published 2024-11-15) https://money2.daishin.com/html/Notice/2024/downloads/enchem1115_02.pdf: "expanding electrolyte supply to the US JV plants of LG Energy Solution and SK On"

### 룽바이커지(容百科技) (mid)  → /ronbay.md
- note: SK On signed an MOU with Ronbay Technology in March 2024 covering ternary and LMFP cathodes, moving toward adopting Ronbay materials. Ronbay operates Korean subsidiary JAESE in Chungju (70kt/yr) close to Korean cell makers. Large-scale commercial supply is not yet confirmed.
- [confirms] THE ELEC (KO, news, published 2025-04-01) https://www.thelec.kr/news/articleView.html?idxno=54237: "Held a 3rd-plant startup ceremony in Chungju's foreign industrial complex, building a 70,000-t/yr cathode production system to strengthen material supply to battery and automaker customers."
- [confirms] China Securities Journal (cs.com.cn) (ZH, news, published 2024-03-26) https://www.cs.com.cn/ssgs/gsxw/202403/t20240326_6397164.html: "The company signed an MOU with SK On Co., Ltd. for full, deep cooperation in ternary and LMFP cathodes—including technical cooperation, product development and sales; Ronbay materials will be introduced into SK On and its end customers."
- [confirms] Yicai Global (EN, news, published 2024-01-01) https://www.yicaiglobal.com/news/chinas-ronbay-to-invest-usd362-million-to-build-two-battery-materials-plants-in-south-korea: "Ningbo Ronbay New Energy Technology will spend CNY2.6 billion (USD362 million) to construct two battery materials factories in Chungju, South Korea, to better meet demand from South Korean battery giants."

### SK아이이테크놀로지(SKIET) (mid)  → /skiet.md
- note: SK Innovation is SKIET's parent and largest shareholder, having spun it off and listed it.
- [confirms] KRX KIND (KO, filing, published 2026-03-16) https://kind.krx.co.kr/common/disclsviewer.do?acptno=20260316001797&docno=&method=search: "The filing lists SK Innovation as SKIET's parent and largest shareholder."

### 동박 3사 (SK넥실리스·롯데·솔루스) (mid)
- note: Sources anode-side copper foil from Korea's three foil makers (SK Nexilis/SKC, Lotte Energy Materials, Solus); per-deal values undisclosed.
- [confirms] SKC (KO, ir, published 2024-01-01) https://www.skc.co.kr/kor/Conmmunication/news/newsDetail.do?seq=1508: "supply copper foil for 5 years, up to KRW 1.4tn"

### 대주전자재료 (mid)  → /daejoo-electronic.md
- note: SK On sources silicon anode material from Daejoo Electronic Materials, with supply beginning in Q1 2024.
- [confirms] Topdaily (KO, news, published 2023-11-14) https://www.topdaily.kr/articles/95544: "Daejoo Electronic Materials said it would begin supplying silicon anode to SK On from Q1 2024."

### SKC (mid)  → /skc.md
- note: SK On (SK Innovation's battery arm) sources a large share of its copper foil from affiliate SK Nexilis (SKC subsidiary); copper foil is about 10% of cell cost.
- [confirms] Sisajournal-e (KO, news, published 2025-07-25) https://www.sisajournal-e.com/news/articleView.html?idxno=413715: "Affiliate SK On is cited as a major SK Nexilis customer, with copper foil about 10% of cell cost."

### 피엔티 (mid)  → /pnt.md
- note: SK On (SK Innovation) is one of Korea's three cell makers that adopted PNT's roll-to-roll electrode-process equipment; part of its expansion capex flows into equipment orders.
- [confirms] Newspim (KO, news, published 2023-10-25) https://www.newspim.com/news/view/20231025000204: "PNT's major customers include SK Innovation (SK On)."

### 나노신소재 (CNT 도전재) (mid)  → /advanced-nano-products.md
- note: CNT conductive-additive supplier (cathode/anode).
- [mentions] Finance Scope (KO, news, published 2024-11-07) https://www.finance-scope.com/article/view/scp202411070013: "Uses Nano-Products CNT additives."

Reverse side: https://valuechain.wiki/sk-innovation/customers.md · Ripple: https://valuechain.wiki/sk-innovation/ripple.md

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