SK Square to invest big in semiconductors and blockchain
SK Square, an investment-oriented affiliate of SK, vowed to invest at least 2 trillion won ($1.6 billion) into semiconductors and blockchain, heralding mergers and acquisitions for the business sector.
SK Square Vice Chairman Park Jung-ho outlined strategies during the first annual general meeting after the company spun off from SK Telecom last year.
“Despite uncertainties in the macroeconomic conditions, there will be good opportunities for investment into high-potential companies this year,” Park told shareholders during the meeting.
The company is making a big push into cryptocurrency as it plans to issue its own token this year with an aim of using it as means of payment on digital platforms run by SK affiliates.
SK Square is currently the second-largest shareholder of Korbit, a local cryptocurrency exchange after investing 90 billion won last year.