Asian Tech Press (May 26) -- South Korea's SK Group plans to invest about $195.24 billion in chips, batteries and biotech through 2026, following Samsung.

The Korean company announced Thursday that it will invest 247 trillion won ($195.24 billion) in semiconductors, batteries and biopharmaceuticals over the next five years.

SK is the second largest conglomerate in South Korea after Samsung, and its subsidiaries include SK Hynix, the world's second-largest memory chip maker, among others.

SK Group said more than half of the investment will go into semiconductors and materials, and will invest 179 trillion won in South Korea to help revive the economy.