SK Group to invest 247 trillion won and directly hire 50,000 people by 2026

Reinforcement of semiconductor, battery, and bio investment
179 trillion won concentrated on domestic investment

SK Group announced on the 26th a mid-to-long-term investment and job creation plan to strengthen its core growth engines, which are condensed into the so-called BBC industry, such as semiconductors, batteries, and bio.

SK Group has decided to make a large-scale investment of 247 trillion won in the BBC sector by 2026 and hire 50,000 talented people to develop the BBC. In order to secure opportunities for growth and innovation in a situation where uncertainty in the global business environment and geopolitical risks coexist, SK explains that investment and talent recruitment must be supported.

▲ Chey Tae-won, Chairman of SK Group. Provided by SK Telecom.

The SK Group decided to invest 142 trillion won in semiconductors and semiconductor materials, which is more than half of the total investment, considering that semiconductors are the core of the 4th industrial revolution, such as AI (artificial intelligence) and DT (digital transformation). Of the total investment, domestic investment alone amounted to 179 trillion won, which is expected to contribute to revitalizing the national economy.

In order to achieve the goal of reducing carbon by 200 million tons, which is 1% of the global carbon reduction target of 21 billion tons by 2030, SK Group is investing 67 trillion won in eco-friendly future industries such as electric vehicle batteries and battery materials, hydrogen, wind power, and new and renewable energy. It plans to advance Net Zero by investing in

Specifically, by 2026, SK Group will invest KRW 142.2 trillion in semiconductors and materials, KRW 67.4 trillion in green businesses such as electric vehicle batteries, KRW 24.9 trillion in digital, and KRW 12.7 trillion in bio and other industries. As 90% of the total investment is concentrated on the BBC, this investment is focused on strengthening the core growth engine.

Investments in semiconductors and materials were mainly focused on creating a semiconductor ecosystem to strengthen semiconductor competitiveness. Investment targets include the creation of the Yongin semiconductor cluster, the expansion of semiconductor fab, and the expansion of materials, parts, and equipment-related facilities such as special gases and wafers.

▲ SK hynix Icheon Campus. Provided by SK hynix

In particular, investment in semiconductors and materials, such as the Yongin semiconductor cluster, is expected to contribute to win-win growth between large and small businesses and the local community in that it will revitalize the local economy and lead to investment and job creation of secondary and tertiary partners, thereby increasing the economic ripple effect. In the green energy sector, the company plans to expand electric vehicle batteries and separator production facilities, equip new and renewable energy production facilities such as hydrogen, which SK is focusing on recently, or invest in global companies to use it as a financial resource to strengthen green energy technology and competitiveness.

In the bio sector, major investment targets include follow-up R&D expenses and CMO expansion, which will continue the myth of developing new epilepsy drugs and the first domestic COVID-19 vaccine, and in the digital sector, wired and wireless communication networks and information and communication content development.

Reporter Park Seong-guk