SK to invest $15.3 billion, hire 7,500 employees this year

SK Group, South Korea's third largest conglomerate, plans to increase its investment by 10 percent to 16.6 trillion won this year from 15.1 trillion won last year, despite economic slump, the top executive of the group said on Feb. 18.

Kim Chang-geun, chairman of SK Group's top decision-making SUPEX Council, said SK will channel the investment into research and development and human resources management. The conglomerate introduced collective leadership system in 1998 to enhance managerial efficiency and better respond to external challenges.

In a meeting with reporters at the group's head office in Seoul, Kim said SK would hire about 7,500 new employees, including 2,400-2,500 high school graduates, this year.

Kim said the group's growth strategies will not be affected by the imprisonment of former Chairman Chey Tae-won. Chey is in jail after receiving a four-year sentence for embezzlement and breach of trust last month.

A total of 17 SK affiliates are members of the SUPEX Council.

By Keat Min Woo

Park Sae-jin swatchsjp@ajunews.com