Choi Tae-won launches AI memory sales push… SK Hynix debuts on NASDAQ

*This content was translated by AI.

Choi Tae-won, chairman of SK Group, is visiting the United States to attend the commemorative event for SK Hynix's American Depositary Receipt (ADR) listing on NASDAQ.

is expected to attend the SK Hynix ADR NASDAQ listing commemoration event in New York, USA, on the 10th (local time). It has been reported that key executives, including Kwak No-jeong, President and CEO of SK Hynix, will also participate. By attending the NASDAQ listing commemoration event, is expected to communicate with global investors and meet with major big-tech customers to discuss plans for expanding cooperation on artificial intelligence (AI) memory.

The commemoration event marks SK Hynix's entry into NASDAQ. It is anticipated that and the executive team will directly explain SK Hynix's competitiveness and mid-to-long-term growth strategies to global investors.

is expected to attend the event in person to inform global investors about SK Hynix's AI memory competitiveness and growth potential.

The scale of SK Hynix's ADR is approximately 43 trillion won (29 billion dollars), with up to 17.79 million shares, representing about 2.5% of total issued shares, being issued as new stocks. The ADR listing was promoted so that SK Hynix can be evaluated in the global capital market as a key company in AI infrastructure expansion.

The raised funds are planned to be used for constructing the first-phase fab (factory) at the Yongin semiconductor cluster and the Cheongju P&T7 Advanced Packaging fab, as well as acquiring machinery including extreme ultraviolet (EUV) scanners.

The listing is also expected to be a hit. In the demand forecast for SK Hynix ADRs, housing subscriptions exceeding seven times the public offering volume were received. Global long-term investment funds, sovereign wealth funds, and technology-focused investment firms participated in large numbers. It was reported that major investment firms such as Bailey Gifford and Coatue Management have also confirmed cornerstone (initial key investor) investments of up to 7 billion dollars.

ADR (American Depositary Receipt) is a security issued by foreign companies to allow them to trade their own shares on the U.S. stock market.

In business circles, it is expected that will continue to meet with executives of major big-tech companies such as NVIDIA and Tesla during this visit to the United States.

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*This content was translated by AI.