SK to invest US$14.2 bilion in next-generation sectors

The SK Group will invest 17.5 trillion won (US$14.3 billion) through 2020 into its next-generation growth engines of alternative energy, smart environment and innovative technology. The conglomerate will also expand its business to China, Latin America, the Middle East and Southeast Asia, with the launch of SK China. To secure new energy sources, SK Energy will focus on environment-friendly low-carbon energy businesses such as photovoltaic, biofuel and rechargeable batteries. The goal is to create 11,000 jobs with an investment of 4.5 trillion won (US$3.7 billion dollars). Investment will be expanded to secure overseas resources such as crude oil, gas, ore and natural rubber. (July 1, 2010)