Lee Seok-hee, President of SK Hynix, "No Intention to Recover Investment in Kioxia"

Lee Seok-hee, CEO of SK Hynix, is listening to the remarks of Minister Sung Yun-mo of the Ministry of Trade, Industry and Energy at the Semiconductor Industry Association Chairman's Meeting held on the 9th at the Westin Chosun Hotel in Jung-gu, Seoul. Photo by Moon Ho-nam munonam@

[Asia Economy Reporter Jeong Hyunjin] Lee Seok-hee, CEO of SK Hynix, stated that there are no plans to withdraw the investment funds in the Japanese semiconductor company Kioxia. This response came amid reports that U.S. semiconductor companies Micron and Western Digital are considering acquiring Kioxia, leading to speculation that SK Hynix, which invested in the company, might recover its investment.

On the morning of the 9th, Lee attended the 'Semiconductor Association Chairpersons' Meeting' held at the Westin Chosun Hotel in Jung-gu, Seoul, where he answered reporters' questions. The event, hosted by Minister Sung Yun-mo of the Ministry of Trade, Industry and Energy, was attended by Lee, Lee Jung-bae, President of Samsung Electronics (Chairman of the Semiconductor Industry Association), Choi Chang-sik, Vice Chairman of DB HiTek, and Heo Yeom, Chairman of Silicon Mitus, among others.

When asked about the possibility of recovering the investment in Kioxia, Lee explained, "There is no change in the investment plan, and there is no intention to withdraw the funds," adding, "Because there was an original purpose for the investment." Regarding the acquisition review of Kioxia, he said, "Apart from the articles, there have been no detailed updates on the progress."

Regarding this year's investment execution plan, Lee said, "As I mentioned at the last shareholders' meeting, we will maintain a 'conservative stance'." When asked about an invitation to the White House meeting in the U.S. on the 12th, he replied, "There has been no invitation so far."

About the meeting, he described it as "a place for communication," saying, "Although there are many challenges, by communicating and putting our heads together, we can find solutions. We also made some suggestions to the government, and it was a good opportunity." He added, "We had the most discussions about workforce development and agreed to actively continue communication going forward."

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