Chey Tae-won, chairman of SK Group, is visiting the United States on the occasion of SK hynix's American depositary receipt (ADR) listing on Nasdaq. He is expected to attend the Nasdaq listing ceremony to engage with investors and meet key customers to discuss ways to expand cooperation on artificial intelligence (AI) memory.
According to the business community on the 9th, Chairman Chey is expected to attend the SK hynix ADR Nasdaq listing ceremony with key executives, including President and CEO Kwak Noh-jung of SK hynix, on the morning of the 10th (local time) in New York.
The event marks SK hynix's debut on Nasdaq. Chey and the management are expected to directly explain SK hynix's competitiveness and mid- to long-term growth strategies to global investors.
The size of SK hynix's ADR is about 43 trillion won. Up to 17.79 million newly issued shares, about 2.5% of the total outstanding shares, will be issued. The funds raised are slated to be used for the construction of the first-phase fab (plant) at the Yongin semiconductor cluster and the Cheongju P&T7 advanced packaging fab, as well as for acquiring machinery and equipment, including extreme ultraviolet (EUV) scanners.
Meanwhile, there is interest in the possibility of a series of meetings with global big tech executives during the U.S. trip. The business community sees a possibility that Chey will meet with major AI customers, including Nvidia, to discuss cooperation on next-generation high bandwidth memory (HBM), SOCAMM, a server memory module, and AI data centers.
In February, Chey met Nvidia CEO Jensen Huang in Silicon Valley to discuss cooperation in HBM, SOCAMM, NAND flash, and AI data centers. During Huang's visit to Korea last month, they met again to confirm cooperation on AI Semiconductor.