ANZ New CEO Forgoes Bonus After Shareholders Reject Executive Pay Report 
Apple Opens iPhone to Alternative App Stores in Japan Under New Competition Law 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
New Zealand Business Confidence Hits 30-Year High as Economic Outlook Improves 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
Precious Metals Rally as Silver and Platinum Outperform on Rate Cut Bets 
Blackstone Leads $400 Million Funding Round in Cyera at $9 Billion Valuation 
Harris Associates Open to Revised Paramount Skydance Bid for Warner Bros Discovery 
Oracle Stock Surges After Hours on TikTok Deal Optimism and OpenAI Fundraising Buzz 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
BOJ Poised for Historic Rate Hike as Japan Signals Shift Toward Monetary Normalization 
Yen Near Lows as Markets Await Bank of Japan Rate Decision, Euro Slips After ECB Signals Caution 
MetaX IPO Soars as China’s AI Chip Stocks Ignite Investor Frenzy 
Delta Air Lines President Glen Hauenstein to Retire, Leaving Legacy of Premium Strategy 
Instacart Stock Drops After FTC Probes AI-Based Price Discrimination Claims 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
SK Enmove targets a top-tier global position in energy-efficient lubricants by 2040, countering EV-driven oil demand decline fears with its new product, ZIC e-FLO, and underscoring the importance of specialized EV lubricants.
Contrary to the belief that demand for lubricant oil will decline with the rise of electric vehicles (EVs), SK Enmove CEO, Park Sang-kyu, emphasized the need for a dedicated lubricant that enhances energy efficiency in EVs. Electric vehicles require specialized lubricants that effectively cool motors and reduce friction resistance in gears.
CEO Park expressed confidence in SK Enmove's competitive edge in raw materials and technologies during the ZIC Brand Day event. He stated, "SK Enmove is paving the way in the EV lubricant oil market, positioning itself as a leader in the industry."
SK Enmove has been manufacturing lubricants for electric vehicles since 2013, with the global e-fluid market projected to reach 12 trillion won ($9 billion) by 2040. Expanding its focus beyond electric vehicles, the lubricant unit of SK Innovation is showing keen interest in liquid immersion cooling (LIC) technology.
Liquid immersion cooling technology utilizes a dielectric liquid that is thermally conductive, effectively reducing heat in hardware through submersion. Data centers, energy storage systems, and EV batteries can achieve a 30% increase in cooling efficiency compared to traditional air-cooling methods.
With the LIC market expected to grow to 42 trillion won by 2040, SK Enmove is poised to succeed in thermal management. CEO Park highlighted the importance of enhancing energy efficiency through thermal management as the demand for data usage continues to surge exponentially.
SK Enmove recognizes the significance of the internal combustion engine oil market, particularly in Southeast Asia and the Middle East, where vehicles using such engines are highly popular among consumers. The company aims to maintain a presence in this market segment while striving to be acknowledged globally as an energy-saving company.
Since its spinoff in 2009, SK Enmove has consistently generated profits, contributing to longer and safer energy use in everyday life. SK Enmove changed its name from SK Lubricants last year to establish itself as an energy-saving powerhouse.
Photo: SK Innovation News Channel
