SK will invest 73 trillion won in South Korea next year to increase production capacity, with more than 60% spent on chips and materials.

On September 14, according to foreign media reports, SK, South Korea's second largest enterprise group by assets, has announced that it will invest 73 trillion won, or about US $52.4 billion, in South Korea next year to enhance the production capacity of chips, green energy and biological manufacturing in South Korea.

According to South Korean media reports, the SK Group announced on Wednesday local time that it would invest 73 trillion won in South Korea next year. In addition to increasing investment to increase the production capacity of related products, they will also invest 25 trillion won in technological research and development in these related areas in the next five years to improve technological competitiveness in the areas of future growth drivers.

South Korean media reported that of the 73 trillion won that SK Group plans to invest in South Korea next year, 48.7 trillion won will be invested in chips and materials, 12.8 trillion won in electric car batteries, hydrogen and other renewable energy, 9.8 trillion won in digital technology, including 5G, and 2.2 trillion won in biopharmaceutical fields, including new drug research and development, vaccine production and contract manufacturing.

Not only does most of the money spent on production investment go to chips and materials, but R & D funds will also be tilted to these two major areas. South Korean media reported that most of the 25 trillion won for research and development will be invested in semiconductors and materials.