SK Group, South Korea’s second-largest conglomerate after Samsung, on Thursday announced a plan to invest 247 trillion won ($195 billion) in key growth sectors such as semiconductors, batteries and biotechnology over the next five years.

SK, which owns the world’s second-largest memory chipmaker SK Hynix Inc., said 142.2 trillion won, or nearly 60% of the total spending, through 2026, is earmarked for establishing a local semiconductor ecosystem, including the launch of a chip cluster, expansion of chip fabrication facilities and increased purchase of chipmaking equipment.

“At the center of the Fourth Industrial Revolution such as digital transformation and artificial intelligence lie semiconductors. Chips are our future,” the energy-to-telecom conglomerate said in a statement.

The group said 67.4 trillion won will go into its green energy business, including electric vehicle batteries, while 24.9 trillion won will be spent on advancing digital technologies such as 5G networks. The remaining 12.7 trillion won will be used for expanding its biopharmaceutical business, it said.