Chey Tae-won, chairman of SK Group, has opened the possibility of investing in semiconductor production facilities abroad, including in the United States, to meet the growing demand for artificial intelligence (AI) semiconductors. He stated that if essential infrastructure such as power, water, and large sites are secured, new fabs could be considered anywhere in the world, including the U.S. He emphasized that the supply structure in the memory market is changing due to the spread of AI.
According to industry sources, Chey made these remarks during a press conference on July 10 in New York, marking the listing of SK Hynix's American Depositary Receipts (ADRs) on Nasdaq. He said, "If the right conditions are met, we can consider locations anywhere in the world, including the U.S."
His comments come as the U.S. government has been increasingly urging global semiconductor companies to expand local production. Chey noted that there is a growing demand from U.S. customers for local production, hinting at the potential for expanding production bases.
However, he clarified the prerequisites for investment, stating, "Semiconductor fabs require power, water, and large sites. Even if we want to increase supply, we cannot build factories just anywhere."
Chey assessed that the memory semiconductor market has entered a different phase due to the spread of AI. He remarked, "The speed of demand growth far exceeds the speed of supply expansion," indicating a structural change that differs from the previous semiconductor cycles characterized by oversupply and price declines. He predicted that as AI becomes more advanced, the demand for memory will continue to rise.
He also revealed plans to realign SK Group's business direction around AI. Chey explained that SK Hynix must evolve from a memory manufacturer to a provider of memory optimized for customer systems. The group aims to cultivate AI data centers and AI infrastructure as core growth pillars, enhancing synergies between semiconductors and infrastructure.
Regarding the Nasdaq listing, he expressed expectations that it would improve accessibility for global investors and aid in securing overseas talent. He stated that the U.S. market listing would help expand the global investment base and strengthen efforts to attract top talent through stock options.
Industry experts believe that the demand for AI semiconductors is increasing more rapidly than expected, making production capacity a key competitive advantage for global semiconductor companies. They anticipate that competition among countries to attract new production sites will intensify in the future.
* This article has been translated by AI.
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