SK Group invested

SK Group is actively developing its semiconductor business

SK Group, a Korean holding company, plans to invest $22 billion in building efficient supply chains in the United States. To this end, the corporation intends to work closely with the U.S. government on a number of promising projects. The relevant negotiations between the head of the corporation and the Executive Office of the U.S. President have already been held.
SK Group is an important partner of the United States. The conglomerate includes SK Hynix, which occupies second place in the world in terms of memory chip production. In addition, the structure also includes SK On, which makes batteries, and recycler SK Energy, a leader in the Korean market.
In 2018, SK On committed $6.2 billion to build two manufacturing facilities in Georgia, as well as 3 plants with Ford Motor Corporation. Last year, the conglomerate announced a $52 billion investment in the U.S. economy. They will be allocated until 2030.
An urgent problem for the global market is the shortage of semiconductor products. As part of this, individual companies and entire countries are increasing their investments in this industry. SK Group is no exception; the holding company has allocated more than $195 billion to this sector. In addition, the corporation actively develops biopharmaceutical business and production of batteries. The program for these areas is designed for 5 years, during which new facilities will be built in Korea and other countries.

SK GroupSK Group is a chaebol, a conglomerate run by a family clan. It is ranked by Forbes among the world’s largest corporations. In Korea, the holding company is second only to Samsung in terms of volume.
The history of SK Group began with a small textile business in 1953. Active development of the company began after it began working with synthetic fibers. This allowed by 1960 to expand production to 300 looms, and 2 years later to start supplying fabrics to Hong Kong.
For the purpose of polyester production, a subsidiary company was organized in 1969, which was the first step toward vertical integration of the business. In 1973 the founder of the corporation died and his brother took over the management. Thanks to long-term planning and a successful management strategy, the holding actively developed and expanded. Within a few years, oil and construction companies joined the business structure, and industrial subdivisions outside of Korea appeared.
By 1990 about 50% of the holding’s turnover came from the oil and petrochemical businesses. A few years later, chaebol decided to expand its influence into other niches as well, so it included a telecommunications company, which later became the leader among Korean mobile operators.