SK Group Plans to Invest Record 10.5 Trillion Won This Year

SK Group, South Korea’s third- largest industrial group, will increase spending this year by 31 percent to a record and increase hiring by 25 percent.

Investment will increase to 10.5 trillion won ($9.4 billion) from 8 trillion won in 2010, the group said in an e- mailed statement today. SK will spend 1.7 trillion won on developing overseas natural resources including crude oil.

To contact the reporter on this story: Shinhye Kang in Seoul at skang24@bloomberg.net.

To contact the editor responsible for this story: Amit Prakash at aprakash1@bloomberg.net.

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