Fajarasia.co – SK Group, South Korea’s second-largest conglomerate by assets, said it will invest 247 trillion won (Rp 2.8 quadrillion) over the next five years to shore up its chip, electric vehicle (EV) battery and bio businesses.
The energy-to-telecommunications business group unveiled a blueprint to 2026, pledging to spend 179 trillion won on investment domestically and help create about 50,000 new jobs, SK said in a release.
Quoted from Yonhap, Saturday, more than half of the investment, 142.2 trillion won, will be spent on upgrading the semiconductor and related materials sector.
SK is pushing for a 120 trillion won project to build a chip cluster in Yongin, about 50 kilometers south of Seoul. They also plan to expand their fabrication plant and wafer manufacturing facility.
SK will spend 67.4 trillion won on electric vehicle batteries, hydrogen and other renewable energy businesses, including the expansion of a battery separator production facility.
The company has allocated 12.7 trillion won for biopharmaceuticals and 24.9 trillion won for digital technologies, such as 5G networks.
South Korea’s main conglomerate, known as the chaebol that dominates the market economy, unveiled a massive investment plan this week when President Yoon Suk-yeol took office earlier this month, including a commitment by Samsung of 450 trillion won and a pledge of 63 trillion won by the Hyundai Motor Group.
Yoon has expressed active support for conglomerates, championing private sector-led economic growth.****
