South Korea's SK Hynix, the world no.2 memory chip maker, will invest 103 trillion won ($74.6 billion) through 2028 to strengthen its chips business, focusing on AI, its parent SK Group said, Report informs referring to Reuters.
SK Group also said it plans to secure 80 trillion won by 2026 to invest in artificial intelligence and semiconductors as well as fund shareholder returns, while streamlining its more than 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.