Ahn Cheolsoo: "Lee must block the 'SK Solidigm' listing... If left unchecked, it will be the end of the domestic stock market"

Ahn flags the profit structure behind a potential "SK Solidigm" listing

Ahn Cheolsoo, a People Power Party lawmaker, said on October 19, "President Lee Jae-myung must use every available public measure to block the listing of Solidigm, a subsidiary of SK hynix."

In a post on social media that day, Ahn said, "This listing is not simply a matter of a duplicate listing. The bigger problem is that it creates a structure in which the interests of SK hynix shareholders are taken by the SK Group owner and its affiliates."

People Power Party lawmaker Ahn Cheolsoo. Photo by Kim Hyunmin.

He said, "SK created a new legal entity called an 'AI company' between SK hynix and Solidigm, creating a 'duplicate of a duplicate' structure. A fund set up by a former SK executive and three SK affiliates have invested in this AI company."

He claimed, "If Solidigm lists and its corporate value grows, bringing in more shareholders, SK hynix shareholders will get a smaller share, while the SK affiliates that invested in the AI company will take all the returns from the listing."

Ahn asked, "Why is SK trying to carve out its NAND business from SK hynix and pursue a 'five-tier multiple listing' that is not even a spin-off?" He added, "The bigger problem is the response from President Lee Jae-myung and the financial authorities."

He warned, "The president and the financial authorities keep talking about amending the Commercial Act and advancing the capital market, yet remain silent on the Solidigm listing issue. If they allow this to go unchecked, it will be doomsday for the domestic stock market."

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