SK Group bets on biotechnology as energy business slows
Korean conglomerate SK Group plans to spend $1 billion to build a biotechnology business, which it hopes will offset slow growth in its existing businesses.
SK Group, Korea's fourth-largest conglomerate, plans to spend $1 billion to build a biotechnology business, whose profits it hopes will offset slowing growth in its energy and chemicals arms. The Seoul-based company says it wants to make "life sciences", which refers to pharmaceuticals, agricultural and industrial products developed using living organisms and genetic technology, the third pillar of its business, alongside telecommunications and energy.SK Group is starting more or less…
Please sign in or register
for free access to 1 article per month from AsianInvestor’s content and archives of over 16,000 articles.