[Edaily Reporter Yun Junghoon ]SKTelecom(017670)SK hynix is making a large-scale investment in its new U.S. semiconductor subsidiary to strengthen its competitiveness in the artificial intelligence (AI) business.
SKT’s Euljiro Headquarters (Photo: SKT)
SKT announced on the 25th that it has signed a capital contribution agreement to acquire new shares in its U.S.-based affiliate, “SK hynix NAND Product Solutions Corp.”
The number of shares to be acquired is 1,198, with a total acquisition cost of 738.384 billion won. This amounts to 5.70% of KTCorporation’s equity (12.95529239 trillion won). The acquisition will be made via a cash investment, and the scheduled date for the equity acquisition is June 25, 2030. Upon completion of this investment, SKT’s stake in the company will be 0.9%.
The target of the investment, “SK hynix NAND Product Solutions Corp.,” is a U.S.-based NAND business entity focused on semiconductor sales and research and development (R&D). Its CEO is Song Hyun-jong.
Regarding the purpose of this acquisition, SKT stated, “We decided to acquire this stake to secure synergies with our AI business.”
The fundraising strategies of Korean companies seeking to grow their U.S. subsidiaries—which are expected to drive future growth—in local capital markets have hit a snag. With SK hynix suspending the …
The home shopping industry is accelerating its efforts to secure proprietary and exclusive products. Amid declining TV viewership and fierce competition with e-commerce platforms, the industry is purs…
Apple’s first foldable smartphone, the “iPhone Duo,” has received mixed reactions since its launch. While it has garnered praise for its sophisticated design and smooth folding mechanism—and pre-order…
