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South Korea’s SK announces $195 billion investment for chips, batteries, bio through 2026 – Metro US

South Korea’s SK announces $195 billion investment for chips, batteries, bio through 2026

FILE PHOTO: The logo of SK Innovation is seen in
FILE PHOTO: The logo of SK Innovation is seen in front of its headquarters in Seoul

SEOUL (Reuters) – SK Group, South Korea’s second-biggest conglomerate after Samsung Group, said on Thursday it will invest 247 trillion won ($195.24 billion) in the semiconductor, battery and biopharmaceutical sectors over the next five years.

SK Group, whose affiliates include the world’s second-biggest memory chip maker SK Hynix Inc, said more than half of the investment will go into semiconductors and materials and 179 trillion won will be invested in South Korea to help revitalise the economy.

($1 = 1,265.0800 won)

(Reporting by Byungwook Kim; Editing by Christopher Cushing)

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