The plan comes after SK Group Chairman Chey Tae-won and about 20 top executives held annual strategy meetings to discuss the direction of South Korea’s second-biggest business group after Samsung. The executives held marathon discussions for 20 hours over the last two days and debated over ways to overhaul the group, whose businesses also include energy, chemicals and batteries.
SK Hynix Inc., the semiconductor arm of SK Group, plans to invest 103 trillion won ($101.15 billion) through 2028, underscoring the conglomerate’s bet on a sector it considers crucial for future-proofing its businesses.
About 80%, or 82 trillion won, will be allocated to investing in high-bandwidth memory chips, SK Group said in a statement on Sunday. SK Hynix’s HBM chips are optimized for use with Nvidia Corp.’s artificial intelligence accelerators. As part of its bet on AI, SK Telecom Co. and SK Broadband Co. will invest 3.4 trillion won in their data centre business.
