sk hynix: SK Hynix CEO says top shareholder to secure USD1.6 billion for M&A in chips, blockchain
"We are considering investment in companies ranging from those that are big in scale to those that are small," Co-CEO of SK Hynix Park Jung-ho, who is also CEO of SK Square, said at the latter's annual shareholders meeting.
SK Square, which owns 20.1% of SK Hynix, plans to secure 2 trillion won (USD1.63 billion) or more of its own for investments over the next three years, as well as establish a joint investment base with domestic and foreign investors, to invest intensively in areas such as chips and blockchain.
SK Square executives were involved in SK Group's large-scale chip M&As in the past decade such as the acquisition of SK Hynix in 2012, SK Hynix investing 395 billion yen (USD3.21 billion) in a stake in Kioxia in 2017, and SK Hynix signing the USD9 billion acquisition of Intel's NAND business in 2020, SK Square said in a statement.
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