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    A096770   KR7096770003

SK INNOVATION CO., LTD.

(A096770)
  Report
End-of-day quote Korea Stock Exchange  -  2022-09-28
146000.00 KRW   -1.68%
09/28S.Korea's SK On inks deal with Global Lithium Resources for lithium supply
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09/28S.Korea's SK On inks deal with Global Lithium Resources for lithium supply
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09/27Ford Motor to Invest $700 Million to Support Vehicle Production in Kentucky
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SK Group plans $22 bln investment in U.S. high-tech sectors

07/26/2022 | 05:47am EDT

WASHINGTON, July 26 (Reuters) - South Korea's second-largest conglomerate SK Group on Tuesday said it plans $22 billion in new investments in the United States, in semiconductors, green energy and bioscience projects. SK Group includes world's second-largest memory chipmaker SK Hynix, as well as SK Innovation, the parent of South Korea's largest refiner SK Energy and battery maker SK On.

President Joe Biden will meet virtually on Tuesday with SK Group Chairman Chey Tae-won to discuss the company's investments in U.S. manufacturing and jobs, the White House said earlier.

The investments are in semiconductors, green energy, and bioscience, "creating tens of thousands of new high-tech, high-paying American jobs," SK said in a statement released in the United States.

They will come in addition to its $7 billion investment to build two new gigafactories in Tennessee and Kentucky as part of a joint venture with Ford Motor, it added.

The announcement is "another proof point of the success of the administration's efforts to create more resilient and secure supply chains and outcompete the rest of the world in the technologies of the future," a White House spokesperson said.

SK Group plans to invest $15 billion in the semiconductor industry through research and development programs, materials, and the creation of an advanced packaging and testing facility.

It will spend another $5 billion on other green energy businesses, including electric vehicle (EV) charging systems, green hydrogen production, battery materials and recycling.

The $22 billion announced Tuesday is part of the $52 billion SK's chairman said last year it planned to invest in the United States through 2030.

In May, SK Group said it will invest 247 trillion won ($195.24 billion) in the semiconductor, battery and biopharmaceutical sectors over the next five years in South Korea and overseas. (Reporting by David Shepardson, Jeff Mason and Jack Kim; Additional reporting by Heekyong Yang and Joyce Lee; Editing by Jacqueline Wong, Jason Neely and Jan Harvey)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
FORD MOTOR COMPANY -5.83% 11.47 Delayed Quote.-41.36%
GREEN HYDROGEN SYSTEMS A/S -2.59% 13.54 Delayed Quote.-59.53%
SK HYNIX INC. -0.49% 80800 End-of-day quote.-38.32%
SK INC. 0.77% 195500 End-of-day quote.-22.11%
SK INNOVATION CO., LTD. -1.68% 146000 End-of-day quote.-38.78%
All news about SK INNOVATION CO., LTD.
09/28S.Korea's SK On inks deal with Global Lithium Resources for lithium supply
RE
09/28S.Korea's SK On inks deal with Global Lithium Resources for lithium supply
RE
09/27Ford Motor to Invest $700 Million to Support Vehicle Production in Kentucky
MT
09/27Ford investing $700 million in Kentucky truck plant, adding 500 jobs
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09/23Ford Motor Company Starts Construction of Electric Vehicle Plant in West Tennessee
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09/22SK Group Chairman Celebrates Growing U.S. Partnerships at SK Night
AQ
09/20S.Korean shares rebound on battery makers boost
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09/08S.Korean shares end higher; mark fourth straight weekly loss
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09/05South Korea braces for 'very strong' typhoon, businesses curb operations
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09/04South Korea braces for 'very strong' typhoon, businesses curb operations
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More news
Analyst Recommendations on SK INNOVATION CO., LTD.
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Financials
Sales 2022 75 077 B 52,5 B 52,5 B
Net income 2022 3 418 B 2,39 B 2,39 B
Net Debt 2022 12 255 B 8,57 B 8,57 B
P/E ratio 2022 3,84x
Yield 2022 2,51%
Capitalization 12 326 B 8 621 M 8 621 M
EV / Sales 2022 0,33x
EV / Sales 2023 0,36x
Nbr of Employees 1 280
Free-Float 55,0%
Chart SK INNOVATION CO., LTD.
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Technical analysis trends SK INNOVATION CO., LTD.
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 26
Last Close Price 146 000,00 KRW
Average target price 281 038,46 KRW
Spread / Average Target 92,5%
EPS Revisions
Managers and Directors
Jun Kim President, Chief Executive Officer & Director
Yang-Seob Kim Chief Financial Officer
Il-Soo Kim Head-Research & Development
Byung-Rae Lee Head-Compliance Support
Yoon-Kyung Ha Independent Director
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1st jan.Capi. (M$)
SK INNOVATION CO., LTD.-38.78%8 750
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