SK Chairman Chey Tae-won: "We Will Share Infrastructure to Lead the Global SoBuJang Industry"

President Moon Jae-in Visits SK Hynix Icheon Campus
Chairman Choi: "Building Semiconductor Ecosystem through 'Open Innovation'"
SK Hynix to Support 50+ Materials and Components Partners Moving into Yongin Semiconductor Cluster with 1.57 Trillion KRW

[Image source=Yonhap News]

[Asia Economy Reporter Ki-min Lee] Chey Tae-won, Chairman of SK Group, expressed his ambition to share the equipment, personnel, and other resources that SK Group possesses to lead South Korea's semiconductor materials, parts, and equipment (SoBuJang) sector globally. SK also plans to support companies moving into the semiconductor cluster being developed in Yongin, Gyeonggi Province, with more than 1.57 trillion KRW.

On the 9th, Chairman Chey made these remarks during a presentation titled “Creating Social Value for the Leap of SoBuJang” to attendees including President Moon Jae-in, who visited the SK Hynix Icheon campus.

Chairman Chey first mentioned the novel coronavirus disease (COVID-19) K-quarantine, stating, “Our SoBuJang companies will turn the current crisis caused by protectionism into an opportunity to become global leading companies and lead worldwide solidarity and cooperation.”

He continued, “SK approached the SoBuJang issue with the concept of shared infrastructure, allowing many people to share the numerous assets held by large corporations,” and explained, “We will create a semiconductor ecosystem based on an 'open innovation' approach. We will also share more in the secondary battery sector and core technologies.”

Regarding Japan’s export restrictions, Chairman Chey recalled, “The changes in the global supply chain were a serious challenge,” adding, “The government and companies, regions and companies, and companies and companies overcame this through new cooperation models. There were several achievements in materials such as hydrogen fluoride and photoresist.”

[Image source=Yonhap News]

He went further to reveal plans to make the Yongin semiconductor cluster, which SK Hynix is building, a space that creates not only corporate profits but also social value.

Chairman Chey stated, “The Yongin semiconductor cluster will initially host about 50 semiconductor SoBuJang companies,” and announced, “SK will provide support worth 1.57 trillion KRW.” He emphasized, “We will support SoBuJang companies with all the artificial intelligence (AI) and data analysis technologies we possess, and actively invest in basic science fields to contribute to securing national industrial competitiveness in the mid to long term.”

The Yongin semiconductor cluster is a mega industrial complex project where SK Hynix will invest 120 trillion KRW by 2024 on a 4.48 million square meter (approximately 1.35 million pyeong) site in Wonsam-myeon, Yongin City, Gyeonggi Province, to build four semiconductor factories and a 'cooperation complex' centered on SoBuJang partner companies.

Chairman Chey said, “I have been with the company for about 30 years, and I think this is the first time I have experienced such an uncertain management environment,” and assessed, “It is a very difficult task, but the people and companies have always overcome such crises and turned them into opportunities.” He added, “I hope that when we remember today 10 years from now, it will be remembered as the day the domestic ecosystem started a new future,” and pledged, “To build a country where everyone prospers together, SK will create more win-win cooperation cases in various daily lives and do its best efforts.”