WASHINGTON/SEOUL, Sept. 20 (Korea Bizwire) — SK Group, an energy-to-telecom focused conglomerate, plans to invest US$10 billion over the next three years in the United States, the group’s chief has said, as it seeks to expand its presence in the world’s largest economy.
SK Group Chairman Chey Tae-won made the remarks during a corporate event in Washington D.C. on Thursday (local time), emphasizing that the group wants to strengthen partnerships with the U.S.
“SK Group has invested $5 billion in the U.S. in the last three years, and we plan to invest an additional $10 billion in the country over the next three years,” Chey said.
SK Group has been active in recent years in fostering its new growth engines in the U.S.
Its energy unit SK Innovation Co. is currently building an electric vehicle (EV) battery plant in Georgia for US$1.7 billion, while the group’s holding company, SK Holdings Co., acquired AMPAC, a U.S.-based manufacturer of active pharmaceutical ingredients, last year in a deal worth $738 million.
Last week, SK Siltron Co., a semiconductor material producer under the group, announced it will acquire DuPont’s wafer business for $450 million.
For Japan’s export curbs on key materials for the production of chips and display panels, Chey said the group is focusing on finding “alternative ways.” SK Group owns SK hynix Inc., the world’s No. 2 memory chip maker.