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SK Group Plans $59.4 Billion Investment in AI and Chips by 2026

Source: SK

Seoul, South Korea— SK Group has announced plans to secure KRW 80 trillion ($58 billion) by 2026 for investments in artificial intelligence (AI) and semiconductors.

The conglomerate intends to invest KRW 103 trillion ($74.7 billion) in its semiconductor operations over five years, with KRW 82 trillion ($59.4 billion) earmarked for AI-related initiatives.

During a recent visit to the United States, SK Group Chairman Chey Tae-won met with the CEOs of Amazon and Intel to discuss potential collaborations in artificial intelligence (AI) and semiconductor technology.

The company plans to establish a new Semiconductor Committee under its SUPEX Council to enhance the interrelationships among its subsidiaries engaged in the semiconductor industry.

SK Group expects to return to profitability this year with pre-tax profits of around KRW 22 trillion ($15.9 billion) and targets KRW 40 trillion ($29 billion) by 2026.

Furthermore, the conglomerate aspires to streamline its number of affiliates and reorient its management approach towards a more fundamental adherence to the principles of the SK Management System.

"These investments will contribute to both the enhancement of the corporate value of SK Group and the growth of the national economy," an official of the SK Group stated.

(Exchange rate: USD 1 = KRW 1,379.42)