SK hynix chief says group's bold investment behind HBM success

Seoul, Aug 18 (IANS) The head of SK hynix Inc., South Korea's No. 2 chipmaker, said on Monday that SK Group's bold investments and vision have enabled the company to take a leading role in the high bandwidth memory (HBM) market.

Kwak Noh-jung, the chief executive officer of SK hynix, made the remarks during an annual conglomerate-wide business forum held in Icheon, about 50 kilometers southeast of Seoul, highlighting the group's Super Excellent Level (SUPEX) management philosophy, reports Yonhap news agency.

"The company, which was on the verge of collapse, was able to develop the world's first HBM and take the top spot in the global DRAM market, thanks to SK Group," Kwak said.

SK Group acquired the chipmaker, formerly known as Hynix Semiconductor Inc., in 2012. SK hynix developed the world's first HBM the following year.

"We also feel a sense of fear with regard to the enormous changes ahead as the artificial intelligence era begins," Kwak said, noting SK hynix will nevertheless find answers to any new challenges.

Kwak added the company will continue its ceaseless innovation backed by the SUPEX philosophy.

SK Group Chairman Chey Tae-won and around 250 officials from SK Group's affiliates, meanwhile, attended the opening ceremony of the three-day forum. On Wednesday, Chey is scheduled to deliver a speech on the group's business vision.

Meanwhile, the trade minister met with the Japanese ambassador to South Korea and discussed ways to strengthen the countries' economic partnership amid growing uncertainties in the global trade environment, officials said.

Trade Minister Yeo Han-koo met with Amb. Koichi Mizushima in Seoul earlier in the day, as President Lee Jae Myung prepares to visit Japan to hold his first summit talks with Japanese Prime Minister Shigeru Ishiba this Saturday.

Yeo highlighted the importance of strengthening practical economic cooperation between the two countries, as South Korea and Japan mark 60 years since the normalisation of diplomatic relations.

—IANS

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