SK Group Announces $58B Investment in AI

SK Group, a South Korean conglomerate, plans to secure $58 billion by 2026 for investments in artificial intelligence and semiconductors, with SK Hynix investing $74.6 billion in AI chips by 2028. This substantial investment aims to enhance SK Group's AI value chain, including high-bandwidth memory chips and AI data centers, to boost shareholder returns and regain competitiveness. The strategic move underscores South Korea's commitment to technological advancement and market leadership in the semiconductor industry amidst intense global competition. The investment plans follow strategic meetings led by Chairman Chey Tae-won to revamp the group's businesses, including energy, chemicals, and batteries, amid a high-profile legal dispute with his estranged wife over a significant divorce settlement.