Chey Tae-won to lead SK hynix's U.S. AI investment push, heading a $10 billion investment vehicle

[Financial News] Chey Tae-won, chairman of SK Group, will take a hands-on role in SK hynix's U.S. artificial intelligence (AI) investment business. He will chair the board of the U.S. AI investment firm, which will receive up to $10 billion in capital contributions, and oversee its investment strategy for global AI infrastructure and innovative companies.
According to industry sources on the 4th, a report on major shareholdings that SK hynix filed with the U.S. Securities and Exchange Commission (SEC) lists the name of its U.S. AI investment firm as HYAICO Corporation. SK hynix previously announced plans to establish a U.S. company specializing in AI solutions and contribute up to $10 billion in January this year.
HYAICO will be launched by converting the existing corporate entity of Solidigm, SK hynix's U.S. NAND flash subsidiary, to focus on AI business. The core plan is to invest in innovative U.S. AI companies to gain access to related technologies and business capabilities, and connect them to business synergies across SK Group.
With Chairman Chey taking the board chairmanship, SK Group is expected to become more directly involved in investment strategy. Song Hyun-jong, president of SK hynix, will serve as CEO. The board will also include key current and former SK Group executives, including former SK hynix Vice Chairman Park Sung-wook, SK hynix CEO Kwak Noh-Jung, and SK Telecom CEO Jung Jae-heon.
With his global network and leadership in AI, Chairman Chey is expected to lead HYAICO's investment decisions and business execution. The move is seen as a strategy to secure new growth drivers through proactive investment in relevant technologies and companies, as markets for infrastructure such as AI data centers and AI factories expand rapidly.
Investment funds and profits from existing businesses will be managed separately. HYAICO plans to raise investment capital from its investors, including SK hynix, through capital calls as needed, while returning dividends and earnings from Solidigm's business to SK hynix shareholders.
An SK hynix representative explained, “HYAICO plans to manage investments and profits separately,” adding, “Investments will be funded by its investors through capital calls as needed, while profits generated from Solidigm's dividends and earnings will be returned to SK hynix shareholders.”
The launch of this entity is seen as a move by SK hynix to expand its business beyond supplying memory semiconductors and into the broader AI ecosystem.

[email protected] Kang Jung-mo Reporter