The SK Group, South Korea’s second-largest conglomerate, announced Tuesday that it will spend $22 billion in the United States to fund semiconductor, green energy and bioscience projects.
The investments will expand SK’s American workforce from 4,000 to 20,000 by 2025, President Biden said at a White House event with SK Group Chairman Chey Tae-Won to detail the plan.
“This is a big deal,” Mr. Biden said in a virtual appearance at the event because he is still isolated after testing positive for COVID-19 last week.
“This path-breaking announcement represents clear evidence that the United States, Korea, and its allies are back and winning the technology competition of the 21st century,” Mr.