SK to Invest Trillions in U.S. Plants

  • By Jo Jae-hee

    November 03, 2021 11:16

    SK chairman Chey Tae-won has announced plans to invest some W60 trillion in the company's U.S. operations by 2030 (US$1=W1,176).

    Chey was in Washington for about a week until Monday and met with politicians like Senate minority leader Mitchell McConnell to exchange ideas, according to the company. He told McConnell SK will invest half of the US$52 billion in environmentally friendly areas such as electric car batteries and hydrogen energy.

    SK chairman Chey Tae-won (right) talks with Senate Republican leader Mitch McConnell at the Capitol in Washington on Tuesday, in this photo provided by the senator's office.

    Chey also met Republican senators Marsha Blackburn and Bill Hagerty from Tennessee to woo their support to build an EV battery plant in the state. SK is working to build battery plants in Kentucky and Tennessee after establishing a joint venture with Ford.

    But he also met with Democratic Senator Ami Bera, the head of the House subcommittee on Asia-Pacific affairs, and told him about SK's plans to bolster its biopharmaceutical business in the U.S. He spoke to other U.S. government officials and Ford CEO James Farley before heading to Hungary.

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