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AP National Business

Korean firm’s $22B investment will mean new US jobs, WH says

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Published 2:12 PM

By WILL WEISSERT
Associated Press

WASHINGTON (AP) — South Korea’s SK Group plans to invest $22 billion in the United States on industries including semiconductors, green energy and bioscience. The White House says that initiative will create tens of thousands of new domestic jobs while helping ease global supply chain snarls. President Joe Biden met virtually with SK Group Chairman Chey Tae-won. SK Group said it will invest $15 billion in the semiconductor industry through research and development programs, as well as materials and to create a testing and packaging facility, which will help address supply chain problems. Another $5 billion will go to green energy businesses while “several billions of dollars,” would go toward biotechnologies.

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