SK Group to establish $835 mn green biz R&D complex

SK Group, South Korea’s third-largest conglomerate, plans to invest more than 1 trillion won ($835.3 million) in a research and development complex for new eco-friendly technologies aimed at cutting carbon emissions.

SK Group decided to build the center on a 99,000-square-meter site in Bucheon, next to Seoul, for about 3,000 eco-friendly technology R&D staff of the group companies -- SK Innovation Co., SK Geo Centric Co., SK Energy Co., SK On Co., SK Materials Co., SKC and SK E&S Co.

The group said on Tuesday it signed a memorandum of understanding with the Bucheon city government for the R&D facility. The group is set to break ground in 2025 and open the complex in 2027.

“The Green Techno Campus that will combine the group’s eco-friendly R&D capabilities is expected to strengthen technology competitiveness to achieve net-zero emissions,” said Lee Seong-jun, the head of the R&D center project team, referring to the complex.

BATTERY, HYDROGEN, CCUS

It is set to focus on secondary cells, battery materials, battery recycling, hydrogen-related technologies, as well as carbon capture, utilization and storage (CCUS).

The center is also expected to work on other promising eco-friendly technologies such as nanomaterials and low-power semiconductor materials.

Earlier, SK Group Chairman Chey Tae-won emphasized cooperation among group companies on the eco-friendly business.

“Affiliates that chose green business strategies need to get together discuss and find ways to realize those strategies,” Chey said during a meeting with the CEOs of the companies.

The group also plans to expand investment in an existing R&D center that is predicted to work on battery tests and quality checks, as well as eco-friendly materials.

The center, jointly operated by SK Innovation and SK On, is home to some 1,200 researchers doing work on battery and eco-friendly materials.

Write to Jung-hwan Hwang at jung@hankyung.com
Jongwoo Cheon edited this article.