South Korea's SK announces $195 billion investment for chips, batteries, bio through 2026
May 26, 2022 at 06:12 am IST
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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)
SK hynix Inc is a Korea-based company mainly engaged in the production and sale of semiconductor memories. The Companyâs major products include dynamic random access memory (DRAM), NAND flashes, as well as multi-chip packages (MCP), among others. In addition, the Company manufactures and sells complementary metal oxide semiconductor image sensors (CISs). CISs is used in mobile phones, notebooks, tablets, medical devices, digital single lens reflex (DSLR) cameras, camcorders, automobiles, security equipments, game machines, and home appliances. The Company distributes its products within the domestic market and to overseas markets, including America, Germany, UK, Japan, Singapore, India, and China.