South Korea's SK eyeing to invest $8.6b in '08

South Korea's SK Group, parent of oil refiner SK and top mobile operator SK Telecom , will invest a record 8 trillion won ($8.6 billion) in 2008, from 7 trillion won ($7.6 billion) in 2007, a Reuters report, quoting the company, said.

The Reuters report said SK Group in a statement also aims to reach 82 trillion won in sales revenue in 2008, up from last year's 78 trillion won.

Of SK's total investment, 6.9 trillion won will be allocated to capital expenditures to cover network upgrades and overseas investments in the telecommunications area, along with overseas resource development and productivity enhancements in the energy sector, the Reuters report said.

The remaining 1.1 trillion won, a 10% increase from 2007's 1 trillion won, will be allocated to research and development, the group said.