South Korean energy and chemicals conglomerate SK Group announced it would build a new centralised research and development (R&D) centre to strengthen the development of ‘green energy’ technology.
The KRW1trn (US$834m) facility, to be located in Bucheon, near Seoul, would employ 3,000 people from key subsidiary companies including SK Innovation and its EV battery manufacturing spin-off SK On, SK Energy Company and SK Inc.
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It was scheduled to become operational in 2027 and would focus on the development of next generation technology for batteries, hydrogen, semiconductor materials and carbon reduction/capture.
SK Group said the new R&D centre would help sharpen the group’s technological edge in eco-friendly businesses, as it wants to ramp up investment in new growth segments of the economy. It also said it was aiming to cut carbon emission by 200m tons across the group by 2030.
SK Group’s main R&D centre is currently located in the central region of Daejeon.
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By GlobalData
