SK Innovation targets SKIET turnaround with merger, cost cuts

SK Innovation expects its merger with loss-making battery separator unit SK IE Technology to cut annual costs by about 60 billion won ($43.3 million) and return the business to earnings before interest, taxes, depreciation and amortization profitability within two years. The company plans to eliminate overlapping operations in marketing, production and other functions after absorbing SKIET, executives said during an online briefing Wednesday. The merger will also give SKIET access to SK Innovati