This strategic move aims to bolster its chip-making
capabilities, with a specific focus on advancing artificial intelligence (AI)
technologies. The investment plan was disclosed on Sunday by SK Group, the
parent company of SK Hynix.
SK Group announced its intention to secure 80 trillion won
by 2026. This capital will be strategically invested in the fields of
artificial intelligence and semiconductors, while also being utilized to
provide shareholder returns. Additionally, the group plans to optimize its
portfolio by streamlining its extensive network of over 175 subsidiaries.
The sprawling conglomerate outlined the plans following a
two-day strategy meeting, aiming to revive the group after SK Hynix, its main
money maker, and the group’s electric vehicle battery arm suffered heavy
losses.
SK Group said it sought to improve its competitiveness by
focusing on its AI value chain, including high bandwidth memory (HBM) chips, AI
data centres and AI services such as personalised AI assistants.
At a time of transition, a “preemptive and fundamental
change is necessary,” SK Group Chairman Chey Tae-won was quoted as saying in
the statement
During the meeting, the executives also agreed to take
gradual steps to adjust the number of subsidiaries in the group to a “manageable
range”, without specifying the scale of the reduction.
Local media had said SK Innovation, which owns the county’s
largest oil refiner and battery maker SK On, was expected to pursue a merger
with profitable gas affiliate SK E&S.
The group expects Its profit before tax to reach around 22
trillion won this year, turning around from a loss last year, with the goal of
hitting 40 trillion won in profit before tax by 2026.
South Korea, home to the world’s top memory chip makers
Samsung Electronics and SK Hynix, has fallen behind some rivals in areas such
as chip design and contract chip manufacturing.
In the realm of semiconductor technology, chip design and
contract chip manufacturing hold significant importance.
Earlier this year, the government unveiled a substantial
support package worth 26 trillion won (approximately $19 billion) for its
chip-related industries. This strategic investment underscores the imperative
to maintain competitiveness in crucial areas such as chip design and contract
manufacturing.