 |
| SK Group Chairman Chey Tae-won, right, speaks with U.S. Senate Republican Leader Mitch McConnell at the U.S. Capitol in Washington D.C., Oct. 27. Courtesy of Senator Mitch McConnell's office |
By Kim Bo-eun
SK Group is going all out to boost new businesses in electric vehicle (EV) batteries and hydrogen fuel. The group's chairman Chey Tae-won recently traveled to the U.S. and Europe to speak with key figures to request their support for SK's businesses there.
Chey met with U.S. Senate Republican Leader Mitch McConnell and Democratic Congressman James Clyburn in Washington D.C. Oct. 27 through Oct. 28, to expedite SK's strategies to tackle climate change and introduce its ideas for environmentally-friendly businesses in the U.S.
"SK has set a goal to cut 200 million tons of carbon, which is 1 percent of the world's carbon reduction target for 2030," Chey told the lawmakers.
"The group will contribute to reducing carbon emissions in the U.S. by concentrating half of the $52 billion to be invested in the country into environmentally-friendly businesses such as EV batteries and hydrogen fuel."
SK's EV battery affiliate, SK On, recently invested $11.4 billion in the states of Kentucky and Tennessee under a joint venture with Ford. Two EV battery plants will be built there that will have a production capacity of 129 gigawatt-hours, which can produce 2.15 million EVs on an annual basis. SK On has contributed $4.45 billion of the total amount of invested funds.
Chey, who doubles as the chief of the Korea Chamber of Commerce and Industry (KCCI), also met with Democratic Congressman Ami Bera, who heads the House Foreign Affairs Subcommittee on Asia and the Pacific, as well as senior officials at the White House, Department of State and Department of Defense, to discuss investments in future business sectors, climate change and geopolitical issues.
"Chey focused on promoting the interests of Korea's business community to key figures in the U.S.," an SK Group official said. "This is intended to secure widespread support from regions across the world through ESG management."
Following his meetings in the U.S., the SK chairman joined President Moon Jae-in's delegation in Hungary, Nov. 1. The KCCI chief spoke with his Hungarian counterpart and attended the Korea-Visegrad Business Forum in Budapest on Nov. 3. Visegrad refers to the four countries of the Czech Republic, Hungary, Poland and Slovakia. Chey proposed a strong alliance for the countries' eco-friendly vehicle industries, at the forum, which was also attended by President Moon and Hungarian Prime Minister Viktor Orban.
SK has been stepping up investments in the region. SK On received subsidies amounting to $100 million from the Hungarian government this year for a second battery plant in the city of Komarom. SK On unveiled plans to pour in $1.1 billion into setting up a third plant there.
![[INTERVIEW] Hip-hop group Uptown returns after 13 years with new lineup](https://img.koreatimes.co.kr/upload/thumbnailV2/0eae35da5e9c40c38cf439e550a2eb3e.jpg/dims/resize/178/optimize)
![[INTERVIEW] ASTRO members aim to shine in musical theater](https://img.koreatimes.co.kr/upload/thumbnailV2/df16760dc50f469d93434f66a069465c.jpg/dims/resize/178/optimize)
