SK Group aims to boost semiconductor facilities and meet memory demand.
SK Group is considering spending $39 billion to boost its semiconductor facilities.
In a move that would boost capacity, the spending may include facilities which are already under construction as well as two new plants.
The company which controls chipmaker SK Hynix, is increasing spending on its plants as it along with rival Samsung Electronics, aim to keep up with demand for memory that is used in smartphones and tablets.
Some of the investment will include providing new equipment for a production line that is being built for one of its units. One plant, called M14, is already under construction in Icheon, 30 miles from the capital Seoul.
This new plant is expected to produce around 5,000 dynamic random-access memory chip wafers by the end of the year.
The South Korean group chairman, Chey Tae-won, was pardoned last week by South Korean President Park Geun-hye, having been jailed in January 2013 for misappropriating company funds.