SK announces $195 bn investment for chips, batteries

SK Group, South Korea’s second-biggest conglomerate after Samsung Group, 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, said it will make more than half of the investment into semiconductors and materials and 179 trillion won will be invested in South Korea to help revitalize the economy.