Choi Tae-won, chairman of SK Group, is traveling to the United States to attend the Nasdaq listing ceremony for SK Hynix's American Depositary Receipts (ADR). He is expected to engage with global investors and discuss expanding artificial intelligence (AI) memory collaborations with key clients.
According to Yonhap News on July 9, Choi will participate in the Nasdaq listing ceremony for SK Hynix's ADR on July 10 in New York, alongside key executives including CEO Kwak Noh-jung.
This event marks the celebration of SK Hynix's entry into Nasdaq. During the ceremony, Choi and the management team are anticipated to present SK Hynix's competitiveness and long-term growth strategies directly to global investors.
The scale of SK Hynix's ADR is approximately 43 trillion won, with a maximum of 17.79 million new shares being issued, representing about 2.5% of the total shares. The funds raised will be used for the construction of the first phase of the Yongin semiconductor cluster, the Cheongju P&T7 advanced packaging fab, and the acquisition of machinery, including extreme ultraviolet (EUV) scanners.
Choi's direct participation in this event is seen as a move to actively promote SK Hynix's AI memory competitiveness and growth potential to global investors. The ADR listing was pursued to ensure that SK Hynix, a key player in the expansion of AI infrastructure, receives proper valuation in the global capital markets.
Earlier this year, Choi noted in his book 'Super Momentum,' which details SK Hynix's success story with High Bandwidth Memory (HBM), that the market still perceives SK Hynix as a 'commodity' manufacturer and has not recognized its higher value. He expressed the belief that SK Hynix should grow tenfold from its current size.
This reflects Choi's determination to elevate SK Hynix from a mere memory supplier to a provider of customized AI memory solutions, thereby enhancing its corporate value.
Meanwhile, there are expectations in the business community that Choi may meet with executives from major tech companies such as Nvidia and Tesla during his visit to the U.S.
In February, Choi met with Nvidia CEO Jensen Huang in Silicon Valley to discuss long-term collaboration on HBM, next-generation server memory modules, NAND flash, and AI data center construction. They reaffirmed their partnership during Huang's visit to Korea last month.
* This article has been translated by AI.
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