Two of South Korea's biggest conglomerates have announced plans to invest hundreds of billions of dollars into future industries and R&D over the next five years.
SK Group, the country's second-biggest conglomerate by assets, announced a plan today to invest around one-hundred-95 billion U.S. dollars more than half of it in semiconductors and biopharmaceuticals.
Seventy percent of it in South Korea, which will help the local economy.
LG Group plans to invest about 84 billion dollars over the next five years.
Nearly half will go into growth businesses, including batteries, displays and AI.
Also by 2026, both SK and LG are pledging to create 50-thousand new jobs each.