'Game Changer' Chey Tae-won: "SK hynix Needs to Become Ten Times Bigger"... HBM Was No Coincidence

Future Vision Outlined in "Super Momentum"
Chey Tae-won's Bold Decision Behind the SK hynix Acquisition
HBM: A Victory of Timing... "We Were Ready for the AI Boom"

"SK hynix needs to become ten times bigger than it is now. In a few years, we will set our target market capitalization even higher, aiming for 1,000 trillion won, then 2,000 trillion won."

Chey Tae-won, Chairman of SK Group, outlined this future blueprint for SK hynix in his book "Super Momentum," published on January 26, 2026. Chairman Chey stated, "If the past ten years were a journey to make Hynix capable of fighting on the battlefield, the next ten years will change the battlefield itself." He expressed his determination, saying, "I want to use the artificial intelligence (AI) boom as a trigger to bring the company onto the global center stage and be recognized for truly transforming the company."

From 13 Trillion to 536 Trillion: The Game-Changer That Elevated the Group

SK hynix is now the core pillar responsible for about 80% of SK Group's total operating profit. When it was acquired in 2011, its market capitalization was only 13 trillion won, but today it has soared to approximately 536 trillion won, firmly holding the second spot in the KOSPI market by market cap. SK Group, once labeled a domestic-focused company, has since the Hynix acquisition transformed into a truly global player, now generating over 90% of its revenue from global exports.

This remarkable growth was driven by Chairman Chey's bold decisions. At the time of the acquisition, there were intense concerns within the group that "the capital-intensive nature of this industry, requiring trillions of won in annual investments, is risky," and that "even SK Telecom could be jeopardized." However, Chairman Chey read the shifts in the global semiconductor landscape and declared, "I will push forward," choosing to confront the challenge head-on.

In particular, Chairman Chey insisted on a "new share subscription" method despite strong opposition from the creditors. Instead of the acquisition funds flowing to the creditors through the purchase of existing shares, the money went directly into Hynix, serving as a catalyst for research and development (R&D) and facility investments. This strategy allowed Hynix to continue making proactive investments even during downturns, laying the foundation for the company to generate overwhelming profits in the future.

New Release 'Super Momentum'. Platform 9 and 3/4

'100:1 Meetings' and the Strategic Victory of HBM

The post-acquisition process of post-merger integration (PMI) was also unconventional. In the summer of 2012, Chairman Chey gave up his vacation and stayed at the Icheon plant, conducting "100-hour relay interviews" by meeting one-on-one with 100 executives, listening to each for one to two hours. Through this process, he discovered Hynix's unique "fierce wild spirit." Chairman Chey mentioned, "I worked to transplant this DNA throughout the entire group, while also encouraging Hynix to resolve its chronic internal issues on its own."

He also emphasized that the recent success of high bandwidth memory (HBM), which is now leading the global market, was the result of a thoroughly strategic approach. Chairman Chey discussed the formation of an "AI triangle alliance" with Nvidia and TSMC, highlighting that Hynix was quicker than anyone else in picking up signals from the AI market.

He recalled, "We detected the moment our customers' orders changed in real time," and added, "When Nvidia requested HBM, Hynix was already prepared and did not miss the timing." He analyzed that this was not simply a matter of luck, but rather the outcome of preparation and timely investments made in anticipation of market changes.