SK Group’s Chey visits SK Hynix’s HBM production site

[Courtesy of SK Group]

SK Group Chairman Chey Tae-won visited SK hynix Inc.’s high-bandwidth memory (HBM) production site, demonstrating his commitment to strengthening artificial intelligence (AI) chips even as AI bubble concerns mount.

SK Group said on Monday that Chey toured the HBM production line at the SK hynix campus in Icheon and reviewed the overall AI memory chip business. Key SK hynix executives, including CEO Kwak Noh-jung, President Song Hyun-jong, and President Kim Ju-seon, accompanied him.

The HBM production line that Chey inspected is a facility equipped with advanced post-processing equipment and technologies, and SK hynix has been mass-producing fifth-generation HBM (HBM3E) 8-layer products here since March 2024. HBM, a high-performance DRAM with multiple DRAMs stacked vertically to increase data processing speed, is crucial for AI chips.

SK hynix plans to supply HBM3E 12-layer products to customers starting in the fourth quarter of 2024 and aims to begin mass production of sixth-generation HBM (HBM4) in the second half of 2025.

Chey also had extensive discussions with SK hynix executives about the future of DRAM and NAND technology in the AI era and post-HBM future businesses on the same day. Addressing recent AI bubble concerns, he called for “unwavering commitment to securing technological competitiveness,” adding that AI is an “unstoppable trend” and that only companies that seize opportunities in crises will survive and lead technology.

“Overseas big tech companies have recently shown great interest in SK hynix’s HBM technology leadership, thanks to the 32,000 SK hynix members who overcame constant challenges and made efforts, as well as our confidence in ourselves,” according to Chey. According to market research firm TrendForce, SK hynix’s global market share for fourth-generation HBM (HBM3) exceeded 90 percent as of March 2024.

Chey emphasized the importance of AI and AI value chain leadership in an executive meeting in June. SK hynix plans to invest 82 trillion won ($59.85 billion) in HBM and other AI-related fields by 2028.

It was also reported that Chey Seong-geun, the eldest son of SK Group Executive Vice Chairman Chey Jae-won and SK Group Chairman Chey Tae-won’s nephew, recently joined PassKey Inc., the North American subsidiary of SK E&S Co. that was founded at the end of 2021.

According to business sources on Monday, Chey Seong-geun joined PassKey in July 2024, serving as a manager in the strategy department. Chairman Chey Tae-won’s son Chey In-keun also works at PassKey.