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SK Group pledges $15 bn capital investment for 2017

Collected: 2017.01.26

Distributed: 2017.01.31

Source: Go Direct

South Korea’s leading conglomerate SK Group said Thursday it would invest 17 trillion won ($14.6 billion) and hire 82,000 new employees this year, becoming the first among Korean major business groups to lay out investment and hiring plans for this year the local business community preoccupied with implication in the investigation and trial on political scandal involving the president and her inner circle.

Of the spending, 11 trillion won will be made at home and 4.9 trillion won would go to mergers and acquisitions (M&As) and equity investment for further enlargement.

Among its affiliates, SK Hynix Inc. will be the biggest spender with a plan of 7 trillion won to improve fab capacity at a time when demand has been burgeoning.

SK Innovation Co. said it would invest up to 3 trillion won this year, while SK Telecom Co. pledged an investment worth 11 trillion won over the next three years.

By Jung Wook

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