* Partnership with Repsol, a top global brand in motorcycle engine oil (MCO), will allow improvement in expertise and increase in sales
* Far-reaching partnership from distribution to sales and marketing will provide real growth for SK Lubricants
SK Lubricants, a subsidiary of SK
Innovation, will join forces with Spain’s largest energy company, Repsol, in a
bid toward winning the local motorcycle engine oil (MCO) market.
A representative of SK Lubricants
commented that SK Lubricants has signed a distribution, sales, and marketing
contract with Repsol, one of the most esteemed brands in the global MCO market.
The contract signing was conducted in Madrid, Spain under the presence of Lucas
Angellini, the head of Repsol’s MCO business.
With this contract, SK Lubricants
has gained full rights to the distribution, sales, and marketing of Repsol’s
MCO products in Korea. SK Lubricants is also expected to benefit from Repsol’s
technical and marketing expertise to build its own capabilities in the future
MCO market. Furthermore, this contract is expected to contribute toward SK
Lubricants securing its foothold in the local engine oil market.
Repsol is a company with a global reputation
in MCO business; it has engaged in a partnership project for ILBOC lube
oil production project with SK Lubricants. Repsol’s fame is built upon its
sponsorship of the world’s largest motorcycle sports event, MotoGP, with its
high-end MCO products.
Repsol MCO products will enter the local
market from November, and will be available for purchase through the partner
shops of SK Lubricants ZIC brand. SK Lubricants has stepped up their end of the
deal by developing new partner shops that specialize in MCO and motorsport
A representative of the SK
Lubricants commented: “The combination of SK Lubricants’ sales network and the
brand value of Repsol’s premium products are sure to spell a great success in
the local market” and “this contract will serve as a model for similar
partnership projects that focus on the enhancement of our corporate value in
future.” The representative continued: “With the success of this business, we
will continue our efforts to a greater synergy across the Asian market,
where the 76% of the global MCO demand is located in.”
SK Lubricants has released its
premium lineup “SK ZIC Racing” at the end of last year, signaling its foray
into the global racing lubricant market as the first Korean company in a market
dominated by Mobil, Shell, and other global players. As the most prominent and
well-regarded lubricant company in Korea, SK Lubricants has pledged to increase
the number of the available choices in its high-end product line.