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South Korea's SK Innovation says to invest about $9 billion by 2020
May 30, 2017 / 11:55 PM / 7 months ago

South Korea's SK Innovation says to invest about $9 billion by 2020

SEOUL (Reuters) - SK Innovation (096770.KS), which owns South Korea’s top refiner SK Energy, said on Wednesday that it plans to invest about 10 trillion won (6.95 billion pounds) by 2020, mainly on battery and chemical businesses.

FILE PHOTO: The logo of SK Innovation is seen in front of its headquarters in Seoul, South Korea, February 3, 2017. REUTERS/Kim Hong-Ji/File Photo

    The investment is part of the company’s efforts to shift its business portfolio to non-refining businesses, the company said in a filing to the stock exchange.

    The company added that it will also strengthen its competitiveness by expanding global partnership for its refining, lubricant and oil exploration businesses.

    Reporting By Jane Chung and Hyungjoo Jin; Editing by Richard Pullin

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