SK to Invest 14.4 Trillion KRW in Green Business by 2025

[Asia Economy Reporter Seongpil Cho] SK Group's investment-focused holding company SK Inc. and its subsidiaries will invest 14.4 trillion KRW in green (eco-friendly) business sectors by 2025.

On the 14th, SK Inc. held an investor meeting for institutional investors and analysts, unveiling its "SK Green Business Mid-to-Long-Term Growth Strategy." SK Inc. stated, "We will secure high-growth green technologies and commercialize them to increase corporate value," adding, "We will accelerate the reduction of greenhouse gases and pollutants to contribute to SK Group's and the nation's carbon neutrality goals."

SK Inc. plans to invest 9.5 trillion KRW in alternative energy, 300 billion KRW in sustainable food, 4 trillion KRW in clean solutions, and 600 billion KRW in CO2 (carbon dioxide) treatment. Specifically, 4.4 trillion KRW will be allocated to hydrogen/fuel cells, 3.7 trillion KRW to renewable energy, and 1.4 trillion KRW to energy solutions. Based on active investments, SK Inc. aims to expand domestic hydrogen fuel cell production and sales.

SK Inc. will establish a joint venture agreement as early as the beginning of next year with Monolith, a U.S. company that succeeded in commercializing turquoise hydrogen for the first time in the world, to secure a leading position in the domestic turquoise hydrogen market. It will also invest in promising companies related to sustainable food to build a foundation for entering the Asian market. In July, SK Inc. formed a 100 billion KRW alternative food investment fund with Chinese food and beverage (F&B) company Joyvio Group and further invested about 65 billion KRW (55 million USD) in Perfect Day, a leading U.S. alternative protein company, accelerating its global alternative food market strategy. Regarding the clean solution sector, SK Inc. is promoting investments in incineration, landfill, water treatment businesses, and waste resource processing technologies.

Having invested 2.7 trillion KRW in green businesses this year, SK Inc. aims to gradually expand its investment scale and grow into a global comprehensive green business investment company. The value of SK Inc.'s current equity holdings in green business-related investment companies is expected to increase from 6 trillion KRW to 35 trillion KRW by 2025.

This content was produced with the assistance of AI translation services.