White House: SK Group US$22b US investment to create secure supply chains

WASHINGTON, July 26 — New investments by South Korean conglomerate SK Group in the United States announced today reflect successful efforts by the Biden administration to create...

WASHINGTON, July 26 — New investments by South Korean conglomerate SK Group in the United States announced today reflect successful efforts by the Biden administration to create more resilient and secure supply chains, the White House said today.

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. SK officials in Seoul did not immediately offer details of the plan. The SK Group’s battery unit has announced investment of about US$6.2 billion since 2018 to build two stand-alone factories in Georgia and three plants with Ford Motor Co in Tennessee and Kentucky.

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