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SK acquires stake in Chinese automotive chipmaker

The SK Group has secured a 1.47 percent stake in BYD Semiconductor for 25.5 billion won.

The stake was acquired through SK China Co., one of the leading investors in BYD Semiconductor and among the China-based affiliates of SK.

BYD Semiconductor, a unit of China's largest electric vehicle (EV) producer, manufactures automobile sensor chips.

It recently raised 461.7 billion won, following its spin-off from BYD.

The other investors in BYD Semiconductor include Chinese smartphone manufacturer Xiaomi, and chipmaker SMIC, and British chip designer ARM.

SK Group, South Korea's third-largest conglomerate, is expanding in the future mobility sector.

The group's refining and chemicals affiliate, SK Innovation Co., produces EV batteries, while telecom unit SK Telecom Co. is involved in autonomous driving solutions.

It also owns SK Hynix Inc., the country's second-largest memory chip maker.

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