SK Group plans $22 billion investment in U.S. high-tech sectors

WASHINGTON: South Korea’s second-largest conglomerate SK Group on Tuesday said it plans $22 billion in new investments in the United States, in semiconductors, green energy and bioscience projects.

SK Group includes world’s second-largest memory chipmaker SK Hynix, as well as SK Innovation, the parent of South Korea’s largest refiner SK Energy and battery maker SK On.

President Joe Biden will meet virtually on Tuesday with SK Group Chairman Chey Tae-won to discuss the company’s investments in U.S. manufacturing and jobs, the White House said earlier.