Chey Taewon to Chair Board of SK hynix's U.S. AI Investment Firm

Corporate name: "HYAICO Corporation"

SK Group Chairman Chey Tae-won will serve as chairman of the board of HYAICO Corporation, SK hynix's U.S.-based investment firm specializing in artificial intelligence (AI).

According to a beneficial ownership report SK hynix filed with the U.S. Securities and Exchange Commission (SEC) on Nov. 3 (local time), HYAICO Corporation was identified as the name of the entity that SK hynix said in January this year it would convert into an AI-focused investment firm, provisionally named AI Co.

Yonhap News Agency

Chairman Chey will lead the board, which includes a number of current and former senior SK Group executives. Song Hyun-jong, president of SK hynix, will serve as chief executive officer (CEO), while former SK hynix Vice Chairman Park Sung-wook, SK hynix CEO Kwak Noh-jung, and SK Telecom CEO Jung Jae-heon were named as directors.

Drawing on his global network in the United States and leadership in AI, Chey is expected to strengthen HYAICO's execution capabilities and directly oversee decision-making for aggressive AI investment, aiming to create new growth opportunities.

SK hynix previously announced that it would establish a U.S. company specializing in AI solutions and invest up to $10 billion.

The company is considering investing in U.S. AI innovators by converting its existing U.S. NAND flash subsidiary Solidigm into an AI-focused business, and linking the capabilities gained through those investments to synergies across the SK Group.

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