SK Group to Invest 247 Trillion Won in BBC Industry... 50,000 Jobs to Be Created Domestically (Update)

Securing Core Growth Engines in Semiconductors, Batteries, and Bio
179 Trillion KRW Domestic Investment... Revitalizing Local Economy, Win-Win Cooperation Between Large and Small Businesses

Chairman Choi Tae-won of the Korea Chamber of Commerce and Industry is giving a presentation on the Entrepreneurial Spirit Council (ERT) at the Entrepreneurial Spirit Declaration Ceremony held at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, on the morning of the 24th. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Oh Hyung-gil] SK Group will invest 247 trillion KRW over the next five years in the so-called 'BBC industries'?Semiconductors (Chip), Batteries (Battery), and Bio (Bio).

On the 26th, SK Group announced that it will make large-scale investments in the BBC industries by 2026 and hire 50,000 talents domestically to foster core growth engines. Of the total investment amount, domestic investment alone will reach 179 trillion KRW.

SK explained, "In a situation where global management environment uncertainties and geopolitical risks coexist, investment and talent recruitment must be supported to secure opportunities for growth and innovation."

First, SK Group judged that the core of the 4th Industrial Revolution, including Artificial Intelligence (AI) and Digital Transformation (DT), lies in semiconductors, and decided to invest 142 trillion KRW, more than half of the total investment, in semiconductors and semiconductor materials.

The investment targets include the establishment of the Yongin semiconductor cluster, expansion of semiconductor fabs, and expansion of facilities related to materials, parts, and equipment such as specialty gases and wafers. Investment in the semiconductor sector is expected to lead to revitalization of the regional economy and investment and job creation by secondary and tertiary partner companies. It is also anticipated to contribute to coexistence with large and small businesses and local communities.

Additionally, to achieve the group's goal of reducing 200 million tons of carbon?1% of the global carbon reduction target of 21 billion tons by 2030?67 trillion KRW will be invested in eco-friendly future industries such as electric vehicle batteries and battery materials, hydrogen, wind power, and renewable energy.

25 trillion KRW will be invested in the digital sector, and 12 trillion KRW in the bio sector. In the bio sector, the investment includes follow-up research and development expenses to continue the success of developing new epilepsy drugs and Korea's first COVID-19 vaccine, as well as expansion of Contract Manufacturing Organization (CMO) facilities. The digital sector investment includes wired and wireless communication networks and information and communication content development.

An SK Group official said, "We focused on strengthening core growth engines by concentrating 90% of the total investment on the BBC industries," adding, "Ultimately, the agents that will foster growth engines are talents, and we plan to actively create jobs."

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