The chairman of SK Group, Chey Tae-won, was recently spotted at a Manhattan steakhouse, sparking speculation regarding the company's investment strategy in the United States. The images, shared by the restaurant's chef on Instagram, were taken during Chey's visit to New York in late September for the Van Fleet Award ceremony and an earlier trip.
SK Hynix is currently evaluating plans to construct a NAND flash memory facility in New York state through its subsidiary, Solidigm. While the company maintains its long-term outlook on the growth potential of Solidigm and the necessity for expanded production capacity in the US, it has recently adjusted its financial strategy for the project.
In a regulatory filing submitted on the 23rd, SK Hynix announced the suspension of pre-IPO funding and initial public offering plans for Solidigm. The company cited current capital market conditions, recent volatility in the semiconductor sector, and regulatory concerns regarding dual listing as the primary drivers behind this decision.
Despite the pause in public market plans, SK Hynix continues to explore alternative funding methods, including direct investment and external financing. The proposed US manufacturing site is viewed as a strategic move to diversify production bases and align with local manufacturing requirements, keeping the possibility of further executive visits to New York open.
