<중관영지>, SK Hynix Mentioned, Requests 'Investment Expansion'

"China is an Important Semiconductor Consumer"
"Korea Should Protect Rather Than Harm Corporate Profits"

Chinese state media has called on SK Hynix, which operates semiconductor factories in China, to expand its investment. It appears that China is putting effort into 'attracting South Korea' in response to the United States.

(From left) Kwak No-jeong, President and CEO of SK Hynix, and Wang Wentao, Chinese Minister of Commerce.
[Photo by Ministry of Commerce of the People's Republic of China website]

The Global Times, an English-language media outlet affiliated with the People's Daily of China, mentioned SK Hynix CEO Kwak No-jeong, who visited Beijing to attend the China Development Forum on the 25th, stating, "It highlights the importance of the Chinese market to SK Hynix while showing the determination to achieve 'greater success' in China."

The Global Times continued, "Kwak's visit took place at a sensitive time when the South Korean government is reportedly considering whether to cooperate with the U.S.-led restrictions on semiconductor production equipment exports to China. We hope this news is not true, but if South Korea is considering this issue, we hope it makes a rational choice that protects rather than harms the interests of Korean companies."

The Global Times also said, "China is an important semiconductor consumer, and global manufacturers face a matter of life and death if they miss the huge Chinese market. In the rapidly changing market, SK Hynix must continue to invest in China and develop advanced semiconductors to keep up with trends."

Furthermore, the Global Times emphasized, "We hope South Korea provides greater space for Korean companies including SK Hynix to freely invest in China and secure market leadership through technological upgrades. If the U.S. continues semiconductor export restrictions on China, Korean companies can strengthen cooperation with local supply chains in China."

Earlier, on the 22nd, Wang Wentao, China's Minister of Commerce, expressed during a meeting with CEO Kwak that he hopes SK Hynix will continue to increase investment in China and share growth opportunities brought by China's high-quality development.

In response, CEO Kwak said, "China has become one of SK Hynix's most important production bases and sales markets. We will continue to root ourselves in China and relentlessly promote our business there to achieve greater development."