On July 26, South Korea's SK Group plans to invest $22 billion in the US manufacturing business for semiconductor, new energy and bioscience projects. A White House spokesman said it was another step in the administration's quest to build more resilient and secure supply chains and lead the world in emerging technologies.

According to Yonhap News Agency, the White House announced earlier today that U.S. President Biden will meet with South Korea’s SK Group Chairman Choi Tae-won via video connection on the 26th local time to discuss matters such as investing and creating jobs in the U.S. Exchange opinions. According to the White House, Biden will emphasize the government's support for the development of manufacturing, commitment to creating new high-paying jobs, and support for the development of technologies to address the climate crisis.

SK Group announced in May this year that by 2026, it will invest 247 trillion won (about 1.2753 trillion yuan) in new kinetic energy industries, mainly batteries, biology and chips, of which 179 trillion won will be invested in South Korea. Invest the remaining 68 trillion won overseas.