SK Group chairman celebrates growing partnership with US at SK Night

Touts plans to increase investment in the US more than 50 billion dollars until the end of 2025

WASHINGTON, September 22, 2022 /PRNewswire/ — SK Group Chairman Tae-Won Chae emphasized SK’s growing investment in the U.S. and commitment to sustainable development as he hosted officials Wednesday at Washington, DC, for SK Nich. The event, SK SK’s third night, was held to showcase SK’s growing US presence and strengthen relationships with US stakeholders.

SK Group Chairman Tae-Won Chae addresses US officials and partners at SK Night in Washington, DC.

SK Group, of South Korea the second-largest conglomerate operates throughout the US through its companies, including plants for the production of batteries for electric vehicles Georgiaproduction of semiconductor wafers in Michiganas well as pharmaceutical production facilities in California, virginia and Texas.

In July, Chairman Chey met with the President Joe Biden to announce SK’s plans to increase investment in the US with a focus on life sciences, semiconductors and green business. The SK companies plan to increase their joint investments and assets in the US to more than 50 billion dollars by the end of 2025, the total number of SK US employees will increase from 4,000 to more than 20,000.

“A significant portion of our investment will go towards helping achieve zero carbon goals,” Chey said. “Together we can build businesses and find solutions that will help us achieve these important goals. We can make the world a better place for the next generation.”

Additional SK investments in the US are already taking shape. Earlier this month, SK Siltron CSS opened a new enterprise in Michigan as part of a 300 million dollars investment to increase production capacity for semiconductor wafers that can be used in electric vehicle components.

SK On, one of the world’s leading manufacturers of batteries for electric vehicles, recently completed the BlueOval SK joint venture with Ford Motor Co. for the construction of factories for the production of batteries for electric vehicles in the state of kentucky and state of tennessee. The first SK On plant for the production of batteries for electric vehicles in the USA was built and operates in Georgia with a second plant soon to be part of a 2.6 billion dollars investment

SK Inc. and SK Innovation recently invested 250 million dollars in TerraPower, a Bellevue, Washingtoncompany founded Bill Gates which focuses on innovations in nuclear power that can deliver carbon-free energy. SK Ecoplant has also recently invested 50 million dollars in Ascend Elements, a Massachusetts a company specializing in the processing of batteries for electric vehicles and the development of materials.

In addition, AMPAC Fine Chemicals, a SK Pharmteco company, announced the expansion of its California and virginia means A company based in Rancho Cordova, Californiais a leading manufacturer of active pharmaceutical ingredients.

About SK

SK Group, of South Korea the second-largest conglomerate is a collection of world-leading companies engaged in innovation in semiconductors, sustainable energy, telecommunications and life sciences. Founded in SeoulSK invests in building sustainable businesses around the world with a shared commitment to reduce global greenhouse gas emissions and increase the use of renewable energy.

The SK companies together have more than 106 billion dollars of global annual revenue and employing more than 100,000 people worldwide. SK companies are investing billions of dollars to expand their presence in the US through business operations or partnerships in hydrogen energy and fuel cells, electric vehicle battery manufacturing and technology, energy storage solutions, pharmaceutical manufacturing and development, semiconductors and advanced materials. For more information, visit sk.com.

SK Group is South Korea's third largest conglomerate with major operating companies in semiconductors, telecommunications, energy and life sciences.  (PRNewsfoto/SK Group)

SK Group is South Korea’s third largest conglomerate with major operating companies in semiconductors, telecommunications, energy and life sciences. (PRNewsfoto/SK Group)

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SOURCE SC Group

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