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SK Innovation is a South Korean holding company whose critical-mineral exposure is driven almost entirely by SK On, its EV battery and energy-storage subsidiary.
GLEIF confirms SK Inc. (LEI 988400GMME8AOAFMDK34) as SK Innovation's direct and ultimate parent on file (parent_reported: true) — a verified registry relationship. SK Innovation's own IR shareholder page reports the 'largest shareholders' category (SK Inc. plus related parties, not broken out individually on that page) at 52.1% of common stock as of 2025-12-31; secondary aggregators cite 53-56% for SK Inc. alone across differing dates, so the 52.1% group figure from the primary source is used here rather than an unverifiable single-entity number. No SK Inc. dossier exists yet in this corpus, so parent_slug is intentionally left unset.
Named counterparties identified by open-source research and written only where a primary source states the relationship — never inferred from sector or co-mention. 1 customer-side. This is a partial view: it covers the relationships we could evidence, not the company's full supply base.
SK On and Hyundai Motor Group each hold 50% of the Hyundai-SK Battery Manufacturing America JV. share_pct above is the JV equity split, not SK On's share of Hyundai's battery spend -- no such trade-value percentage is disclosed. Re-checked 2026-09-20 (wake-minerals-buyers, step 0.5): source_url still live, confirms the 50/50 stake and 35 GWh capacity verbatim, but does NOT name specific EV models -- the prior note's 'Ioniq 5, EV6, EV9, GV60' list was unsupported by this source and inconsistent with the sibling dossier 005380-ks (Hyundai Motor), which cites Hyundai's own release for IONIQ 5, IONIQ 6 and Genesis GV60 (no EV6/EV9, both Kia-badged). Model list corrected/removed here rather than repeated uncited.
Scope. Absence of a counterparty here is not evidence that none exists — most commercial sourcing is confidential and never becomes public. Rows without a share figure mean no share was disclosed, not that the relationship is small.
Every exposure is read as a buyer dependency; the top 3 are its binding chokepoints.
As a buyer, policy pressure across its consumed materials is coverage-limited.
Descriptive trend in official policy actions on this company’s materials — a policy-pressure trend, not a price or trading signal. No forward probability is implied. Direction is measured on actions we have discovered, and discovery lags events: where the recent window is too thin to support a calm reading, the row says coverage-limited instead of easing.
No actions in the register have named or swept this company in the last 24 months.