Chairman Chey Tae-won Heads to US for SK hynix NASDAQ Listing... Eyes on Global Big Tech Meetings

Attending ADR Listing Ceremony in New York on July 10
Securing Investment Funds and Discussing Expanded AI Memory Collaboration

SK Group Chairman Chey Tae-won is traveling to the United States to mark the listing of SK hynix's American Depositary Receipts (ADR) on NASDAQ. He is expected to attend the listing ceremony, communicate with global investors, and seek ways to expand cooperation on artificial intelligence (AI) memory with major IT companies.

According to the business community on July 9, Chairman Chey will attend the SK hynix ADR NASDAQ listing ceremony in New York on the morning of July 10, local time. Key executives, including SK hynix CEO Kwak Noh-jung, are also expected to accompany him. Chairman Chey and the management team plan to directly present SK hynix’s technological competitiveness and mid- to long-term growth strategies to the global capital market on site.

Chairman Chey Tae-won of SK Group announced investment plans at the National Report Meeting for the 3 Major Mega Projects, hosted by President Lee Jae-myung at the Blue House on the 29th of last month. Photo by Yonhap News

The size of this SK hynix ADR issuance amounts to approximately 43 trillion won. Up to 17.79 million new shares, accounting for about 2.5% of the total issued shares, will be issued. The funds raised through this listing are planned to be invested in the construction of the first phase fab at the Yongin Semiconductor Cluster, the Cheongju P&T7 Advanced Packaging Fab, and the introduction of equipment such as extreme ultraviolet (EUV) scanners.

Chairman Chey’s direct participation in the listing event is seen as a demonstration of his determination to have SK hynix’s corporate value re-evaluated in the global market, as the company has emerged as a key player in the AI infrastructure sector. Previously, in his book “Super Momentum,” published earlier this year and covering SK hynix’s high bandwidth memory (HBM) growth, Chairman Chey diagnosed, “The market still perceives SK hynix as a ‘commodity’ manufacturer and has not recognized its higher value,” adding, “Hynix needs to become ten times bigger than it is now.”

This is interpreted as Chairman Chey’s intention to transform SK hynix from a mere general-purpose memory supplier into a provider of customized AI memory solutions, thereby significantly enhancing the company’s corporate value.

Meanwhile, within the business community, there is attention on the possibility that Chairman Chey will hold a series of meetings with top executives from major big tech companies such as Nvidia and Tesla during his stay in the United States. In February, Chairman Chey met with Nvidia CEO Jensen Huang in Silicon Valley to discuss a broad range of cooperation, including HBM, next-generation server memory modules such as SOCAMM, NAND flash, and the construction of AI data centers. He also re-confirmed the partnership during CEO Huang’s recent visit to Korea last month.

This content was produced with the assistance of AI translation services.