'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 ambitious vision 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 be about changing the battlefield itself." He added, "I want to use the artificial intelligence (AI) boom as a trigger to propel SK hynix onto the global center stage, so that we can be recognized for truly transforming the company."

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

SK hynix is currently 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 it has since soared to around 536 trillion won, firmly securing its position as the second-largest company by market cap on the KOSPI. SK Group, once labeled a domestic-focused company, is now recognized as a truly global enterprise, with more than 90% of its revenue coming from exports-a transformation that began with the acquisition of Hynix.

This remarkable growth was made possible by Chairman Chey's bold decisions. At the time of the acquisition, there were strong concerns within the group, such as "A capital-intensive industry requiring trillions of won in annual investment is too risky," and "Even SK Telecom could be put at risk." However, Chairman Chey, reading the shifts in the global semiconductor landscape, declared, "I will take the lead," and chose to push forward head-on.

In particular, Chairman Chey pushed through the acquisition by insisting on a "new share subscription" method, despite strong opposition from creditors. Instead of the acquisition funds flowing to creditors through the purchase of existing shares, the capital was injected directly into Hynix, serving as a "priming pump" for research and development (R&D) and facility investments. This strategy enabled Hynix to continue making proactive investments even during downturns, building the financial strength needed 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. Chairman Chey gave up his summer vacation in 2012 to stay at the Icheon plant, where he conducted "100-hour relay interviews," meeting one-on-one with 100 executives for one to two hours each. Through this process, he discovered SK hynix’s unique "fierce wild spirit." Chairman Chey said, "I sought to transplant this spirit into the DNA of the entire group, while also encouraging Hynix employees to solve the company’s chronic issues themselves."

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

He recalled, "We captured the moment when customer orders began to change in real time," and added, "When Nvidia requested HBM, Hynix was already prepared and did not miss the opportunity." He analyzed that this was not simply a matter of luck, but the result of foresight, preparation for market changes, and timely investments coming together.