Lee Seok-hee, CEO of SK Hynix, "Let's Soar with Both Wings of DRAM and NAND"

Message from the CEO to All Employees Regarding the Acquisition of Intel NAND Flash Division

Lee Seok-hee, CEO of SK Hynix

[Asia Economy Reporter Dongwoo Lee] Lee Seok-hee, CEO of SK Hynix, stated regarding Intel's acquisition of the NAND flash business, "Let's soar to the center of the 4th Industrial Revolution with the dual wings of DRAM and NAND."

On the morning of the 20th, CEO Lee sent a message to all employees sharing the purpose and vision behind Hynix's acquisition of Intel's NAND flash business. In his message, he said, "Today, Hynix has signed a contract to acquire Intel's NAND business division," adding, "This is a very meaningful day that will be recorded in SK Hynix's 37-year history."

He emphasized, "Although the competitive environment around us is challenging, we have made a bold decision to establish a stepping stone for securing a solid position in the NAND business, just as we have in the DRAM business."

CEO Lee explained, "As you all know well, SK hynix's NAND business started somewhat late," but added, "However, through the determination of our members, we have demonstrated the capability to develop world-first products consecutively, and our solutions have shown strengths in mobile, leading to continuous growth."

He also expressed the difficult global environment, saying, "It has not been easy to overcome the weaknesses of being a latecomer, and especially the characteristics of the memory business, with its high market volatility, have blocked our path at critical turning points of growth."

CEO Lee stated, "Intel, the world's number one semiconductor company, has shown remarkable achievements particularly in SSDs," and emphasized, "If we integrate Intel's technology and production capabilities to strengthen competitiveness in high value-added solutions such as SSDs, SK Hynix will secure a position in the rapidly growing NAND business in the big data era comparable to DRAM."

He said, "Let's enhance business stability and build a proud company with a corporate value of 100 trillion won," adding, "On the first day I took office as CEO in 2019, I pledged with you all to create a proud company achieving a corporate value of 100 trillion won within three years, and I have repeatedly emphasized the important role of the NAND business to achieve this."

He continued, "We are now facing a new turning point that brings us one step closer to achieving a corporate value of 100 trillion won," and stressed, "If the NAND business grows as steadily as the DRAM business, SK Hynix's goal of reaching a corporate value of 100 trillion won will surely be accelerated."

He added, "There will be no forced organizational integration between the two companies. Instead, we will communicate sufficiently with our members and devise ways to harmonize SK Hynix's indomitable determination with Intel's first-place DNA," explaining, "The synergy created through this will offer valuable futures to stakeholders including customers, partners, investors, local communities, and employees, further enriching the global ICT industry."

Finally, CEO Lee said, "We have a dream to sustain growth with the two solid pillars of DRAM and NAND, while also expanding into non-memory fields such as CIS and foundry," and concluded, "Now, let us spread the strong dual wings of DRAM and NAND, balanced wings that can soar high toward this dream, and together rise to the center of the 4th Industrial Revolution."

This content was produced with the assistance of AI translation services.