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[Guest Report] SK Innovation donates $50,000 to Rice University’s Korean program

Oct 26,2017
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Y. Ping Sun, Rice University representative, fourth from left, and Lora Wildenthal, interim dean of humanities, second from left, accepts a donation from Choi Dong-soo, president of SK Innovation’s exploration and production business, fifth from left. [SK INNOVATION]
SK Innovation, Korea’s leading energy and petrochemical company, has donated $50,000 to Rice University in Houston to support its Korean programs in the Center for Languages and Intercultural Communication. The donation will also support scholarships for the Rice in Korea study abroad program as well as Korean cultural programs at Rice University.

SK Innovation’s management philosophy of “growing together with the local community” contributed directly to the company’s decision to make a donation to the Korean Studies program. Thanks to SK Innovation’s contribution, Rice University will be able to solidify its Korean programs and raise understanding of Korean language and culture on campus by sponsoring scholarships, diversifying Korean-related courses and hosting campus-wide cultural activities.

Choi Dong-soo, president of SK Innovation’s exploration and production (E&P) business, and Kim Tae-won, head of the North American E&P business division, presented the donation to Y. Ping Sun, university representative, and Lora Wildenthal, interim dean of humanities.

“We are delighted to act upon SK Group’s management philosophy of ‘sharing happiness,’” Choi said. “We hope that our donation enables cultivation of social values while helping the local scholarship program and enhancing awareness of Korea in the community.”

“The Center for Languages and Intercultural Communication at Rice University is delighted to receive this generous gift from SK Innovation,” said Rafael Salaberry, director of the center. “With this gift, we will continue to support students with limited financial means to participate in our Rice in Korea program.

“The generous support of SK Group will help many students at Rice have access to an educational opportunity that is quickly becoming a needed component of a well-rounded university education,” he added. “We are honored by the trust that SK Innovation has placed on us to help them continue to advance their vision of community engagement through our academic programs in Korean.”

Located on a 300-acre forested campus in Houston, Rice University is consistently ranked among the nation’s top 20 universities by U.S. News & World Report. Rice has highly respected schools in architecture, business, continuing studies, engineering, humanities, music, natural sciences and social sciences, and is home to the Baker Institute for Public Policy.

With 3,879 undergraduates and 2,861 graduate students, Rice’s undergraduate student-to-faculty ratio is six to one. Its residential college system builds close-knit communities and lifelong friendships, just one reason why Rice is ranked No. 1 for quality of life and for lots of race/class interaction and No. 2 for happiest students by the Princeton Review. Rice is also rated as a best value among private universities by Kiplinger’s Personal Finance.

SK Innovation is a leading energy and petrochemical company engaged in various fields of business from petroleum production, refining, chemicals and lubricants to batteries and future energy. It is an affiliate of SK Group, the second-largest business group in Korea.

SK Innovation strives to share greater happiness in society by engaging in a range of philanthropic activities and making social contributions in various fields including social enterprises, education, regional co-growth and the environment. It aims to make all members of society happy with the aim of becoming a company that improves the value of life through social contributions. In the past, SK Innovation has made many social contributions and donations.

On May 25, SK Innovation employees volunteered at the Houston Food Bank in service of Houston families in need.

On June 6, SK Innovation donated $50,000 to the Tulsa Regional STEM Alliance in Oklahoma. The program supports teachers and students in science, technology, engineering and mathematics and is sponsored by the Oklahoma Energy Resources Board, a private organization founded by oil and gas companies.

Established as Korea’s first oil refiner in 1962, SK Innovation engages in diverse areas of business, including exploration and production, batteries, and information and electronics materials. It owns SK Energy, Korea’s No. 1 refiner; SK Global Chemical, the domestic leader in petrochemicals; SK Lubricants, a global lubricant manufacturer; SK Incheon Petrochem, a refining and chemical company; and SK Trading International, a trader of crude oil and petrochemicals.

SK Innovation pursues the maximization of happiness for all interested parties as part of their management philosophy. It is for this reason that SK Innovation recognizes the importance of and pays attention to social enterprise, a way to create social values through business.

By Yee Jae-eun [yee.jaeeun@joongang.co.kr]