To Revitalize Local Economies
SK Group will invest 67 trillion won in non-capital regions over the next five years, the group announced on Sept. 14.
SK Group announced its investment and R&D plans to enhance the domestic infrastructure and technological competitiveness of the so-called BBC industries -- batteries, biotech and chips.
Earlier this year, the group decided to invest 179 trillion won in Korea over the next five years. Of the total, the group has decided to allocate 67 trillion won in regions other than the Seoul metropolitan area, thereby contributing to the revitalization of local economies and balanced national development.
The 67 trillion won breaks down into 30.5 trillion won in semiconductors and materials, 22.6 trillion won in the green business, 11.2 trillion won in the digital industry and 2.8 trillion won in the biotech and other business areas.
SK Hynix has recently decided to invest 15 trillion won in M15X (eXtension), a new semiconductor plant in Cheongju, over the next five years. SK Group affiliates such as SK Siltron, SK Materials, and SK E&S are expected to lead the group's investment in local areas.
On top of that, SK Group has decided to make intensive investments in domestic production facilities to preemptively respond to the ongoing economic crisis and geopolitical risks. It has decided to spend 73 trillion won of the 179 trillion won domestic investment between this year and next year. Twenty-five trillion won will be allocated to R&D over the next five years to help major SK affiliates secure technological competitiveness.
SK’s domestic investment will zero in on the BBC industries -- 48.7 trillion won in semiconductors and materials, 12.8 trillion won in green technologies, 9.8 trillion won in digital and 220 billion won in biotech and other sectors.
Over the next five years, a total of 25 trillion won will be invested in R&D -- 22.1 billion won in semiconductors and materials, 800 billion won in the green business, 1.2 trillion won in the digital industry and 1.1 trillion won in the biotech and other sectors.