SK Group to invest around 12 billion US dollars in “green” industries by 20259. December 2021
South Korea’s third-largest conglomerate SK Group plans to invest around 12 billion US dollars in so-called green industries over the next five years. This is the company’s response to the growing awareness of the global climate crisis and its attempt to expand its business areas into environmentally friendly industries. Pulsenews Korea reported in mid-October that the investment will be made through the corresponding subsidiary SK Inc. Within the group of companies, the equivalent of 7.9 billion US dollars is to be invested in alternative energy, 3.3 billion US dollars in clean industrial processes, 504 billion US dollars in CO₂ processing and 260 million US dollars in sustainable food. The potential growth of the green industry sector would mean greater demand for solar and wind power equipment, among others, much of whose production requires KC certification and KC certification for explosive products.
A previously published announcement by SK Group to invest around 15.5 billion US dollars in hydrogen technologies referred to joint financing by SK and external partners. The now announced investment in the green sector will be done completely independently by SK. Senior Vice President of SK’s Green Investment Centre Kim Moo-hwan said the group has already invested the equivalent of US$2.27 billion in green industries this year. Of all industries, SK has the most interest in alternative energy. These include hydrogen and fuel cells, energy distribution and renewable energy. Experts estimate that the global alternative energy market will double by 2025. In addition, SK is expanding its involvement in sustainable foods such as meat alternatives, lab-grown meat and protein from microbial fermentation.
South Korea is considered one of the most important and innovative industrial nations in the world. To gain market access to this highly technological country, products imported into South Korea must be tested and certified. The KC mark or certificate is roughly equivalent to the European CE mark and applies to 730 different products. MPR International GmbH has solid experience in Korea certification and competent local partners. We will be pleased to advise you without obligation about the scope and procedure of a Korea certification.
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