SK Group $22 bln U.S. investment to create secure supply chains -White House

New investments by South Korean conglomerate SK Group in the United States announced on Tuesday is an example of successful efforts by the Biden administration to create more resilient and secure supply chains, the White House said Tuesday. South Korea's second-largest conglomerate was expected to announce $22 billion in new investments in U.S. manufacturing, the White House said.

SK's chairman said last year it planned to invest about $52 billion in the United States through 2030. U.S. President Joe Biden will meet virtually on Tuesday with the chairman of SK Group to discuss the company's investments in American manufacturing and jobs, the White House said earlier.

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