[News Article] SK hynix pledges W103tr for AI chips by 2028
SK Hynix pledges
W103tr for AI chips by 2028
By
Jie Ye-eun, The Korea Herald - SK Group said Sunday that it will secure 80
trillion won ($57.9 billion) by 2026 to accelerate its push for two growth
drivers: chips and artificial intelligence. SK
hynix, its chipmaking unit, alone plans to invest 103 trillion won by 2028,
with 80 percent of the new funding focusing on AI chips, including
high-bandwidth memory, a burgeoning area where the chip giant has secured an
earlier edge. Telecom
carrier SK Telecom and internet service provider SK Broadband will also invest
a combined 3.4 trillion won into the data center business over the next five
years. A
series of new investment plans were unveiled on the day following a meeting of
top executives on Friday and Saturday at the group’s research center in Icheon,
Gyeonggi Province. “Here in the US, AI is everywhere,” Chairman Chey Tae-won,
who is currently in the US on a business trip, said via a video link during the
meeting. “We
should consolidate our leadership in the AI value chain from service to
infrastructure by leveraging all the capabilities across affiliates.” Among
tech leaders the SK chief met last week were OpenAI CEO Sam Altman and
Microsoft CEO Satya Nadella. “When
it comes to green, chemical and bio areas, we need to do selection and
concentration based on a thorough review of market trends and our technological
prowess,” he added, hinting at a possible strategic shift after years of
aggressive expansion in the renewable energy and biotech fields. During
the two days of meetings, some 20 top executives reviewed the performance of
key businesses and set the future direction, including action plans across
companies. The
group’s strategic focus will be enhancing its AI value chain from AI chips to
data centers to AI services to secure its global competitiveness amid heated AI
competition among its tech rivals. A
semiconductor committee has also been set up within the SK Supex Council, the
group’s top decision-making body, with SK hynix President and CEO Kwak Noh-jung
taking the helm. Also
on the agenda were ways to elevate profitability and improve operational
efficiency. As
part of its efforts, the group plans to secure 30 trillion won in cash in the
coming three years and control the debt ratio below 100 percent. The
group posted a loss of 10 trillion won in earnings before tax last year, but
this year it aims to turn a profit of about 22 trillion won. It also set a goal
of 40 trillion won in earnings before tax by 2026. “We
have clear goals for qualitative growth, and with consistent effort there is
nothing we cannot achieve,” said Vice Chairman Chey Jae-won during the meeting.
“Each subsidiary should accelerate operational improvements and respond to
market expectations and trust.” Source:
https://www.koreaherald.com/view.php?ud=20240630050124
2024.07.02
>
>
