Chey Tae-won: "Jensen Huang Sees Korea as the 'Key Axis of the Supply Chain'... Reason for Missing the Chimaek Gathering"

Memory Supply Chain, a 'Key Link' for Jensen Huang
'Rebalancing Is an Endless Process'
Focus on Strengthening Operations
'Management Risks Not Fully Resolved After APEC'
'Expansion Through M&A Has Its Limits'
Maintaining a Strategy of Internalization
Absence from 'Chimaek Gathering' Due to APEC Chair Duties

Chey Tae-won, Chairman of SK Group, emphasized the importance of global semiconductor supply chain management and stated that the role of the domestic memory semiconductor industry is crucial to the product development of major companies such as Nvidia.

On November 3, immediately after delivering the keynote speech at the 'SK Artificial Intelligence (AI) Summit 2025' held at COEX in Gangnam-gu, Seoul, Chairman Chey spoke with reporters and referred to recent remarks by Jensen Huang, CEO of Nvidia, who visited Korea. Chey said, "If memory is not supplied properly, it is impossible to make Blackwell or Rubin," and explained that, from CEO Huang's perspective, Korea serves as a key axis in the supply chain. He added, "That is how important Korea is."

During the subsequent Q&A session, when asked about the group's rebalancing (business restructuring), he began by saying, "I believe nothing in the world truly ends." He continued, "Although we call it rebalancing, internally, it is a matter of how much more robust we can make our operations. We may continue to do so until we become stronger." He further explained, "I think this may differ from company to company."

On the afternoon of the 3rd, Chey Tae-won, Chairman of SK Group, is answering questions from the press at COEX in Gangnam-gu, Seoul. Photo by Shim Sunga

He also addressed a question about whether global management risks had been resolved through the 2025 Asia-Pacific Economic Cooperation (APEC) summit held earlier.

Chairman Chey said, "I cannot say that everything has been resolved, but I think we are now in a situation where the first button has been fastened correctly," and evaluated, "Negotiations with the United States have opened up, and a compromise has been reached." However, he cautioned, "Conversely, if the next steps do not go well, there is a possibility that the risks could return to us."

He added, "The same applies to China and Japan. Opportunities and risks coexist," emphasizing the need for complex risk management under the current global geopolitical environment.

In response to a question about expanding high-bandwidth memory (HBM) production capacity through mergers and acquisitions (M&A), he drew a clear line, stating, "We have to do it ourselves. I don't think this is a situation that can be solved through M&A," reaffirming a strategy focused on internalizing technology.

At the event, he was also asked about the reason for not attending the recent 'chimaek (chicken and beer) gathering,' which has become an industry topic. Chairman Chey explained, "As the APEC CEO Chair, I could not abandon that responsibility. CEO Huang fully understood the situation."