ASSET SALESRecently, SK Group has been seeking asset sales and mergers among its affiliates as part of corporate restructuring to streamline its sprawling affiliates and raise funds for new businesses.SK Innovation Co., which owns the country's largest oil refiner SK Energy Co.and battery maker SK On Co., is pursuing a merger with profitable gas affiliate SK E&S Co.to help prop up loss-making SK On.SK Ecoplant Co., the construction engineering and waste management unit, is seeking to absorb SK Materials Co., the profit-making industrial gas business unit within SK Inc., an investment and holding company of the group.SK Networks Co.has agreed to sell its car leasing unit SK Rent-a-Car Co.to Affinity Equity Partners for 820 billion won.SK Inc.is negotiating to sell a major asset of its contract drug-making unit SK Pharmteco Co.in the US to Novo Nordisk A/S, a Danish multinational pharmaceutical company.SK Inc.is also in talks to sell its 9% stake in Vietnam's Masan Group back to the retail-to-telecoms conglomerate.SK IE Technology Co.(SKIET), an EV battery materials maker, is also up for sale, sources said.
The planned investment will be led by SK Hynix Inc., its flagship unit and the world’s second-largest memory chipmaker, SK Telecom Co.and SK Broadband Co., the group said after a two-day strategy meeting of affiliate chief executives late last week.
Over the next five years, SK Hynix will spend 103 trillion won, of which 82 trillion won, or 80%, is earmarked for AI chips, including high-bandwidth memory (HBM), and other AI-related businesses.
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