[Edaily Reporter Lee So-Hyun ] SKTelecom(017670)SK Group is investing approximately 397.1 billion won in #SK hynix’s U.S. NAND business subsidiary. This move is seen as an effort to strengthen semiconductor collaboration within the SK Group to secure synergies with its artificial intelligence (AI) business.

SKTelecom announced on the 29th that it will acquire 642 shares of its U.S. subsidiary, “SK hynix NAND Product Solutions Corp.,” for 397,129,047,957 won.

The acquisition amount represents 3.07% of SKTelecom’s equity capital of 12.95529239 trillion won. Following the acquisition, SKTelecom’s ownership stake will be 0.62%. The acquisition will be made via a cash investment, and the scheduled completion date is the 23rd of next month.

Regarding the purpose of the acquisition, SKTelecom explained, “We are pursuing the acquisition of shares in SK hynix NAND Product Solutions Corp. to secure synergies with our AI business.”

This disclosure marks the first capital contribution under the capital contribution agreement announced by SKTelecom on the 25th. SKTelecom had previously disclosed that it had entered into a capital contribution agreement to acquire new shares in the company. This acquisition of new shares is the first capital contribution made in response to the company’s request for capital payment.

SK hynix NAND Product Solutions Corp. is a U.S.-based affiliate of SK hynix, with semiconductor sales and research and development as its core businesses. Based on this year’s financial statements, its total assets amount to 7.6967 trillion won, revenue to 9.0298 trillion won, and net income to 736.4 billion won. Its total equity stands at minus 908.8 billion won.