SK Hynix "Gradual Integration with Solidigm... Quarterly Dividends Also Implemented"

Shareholders' Meeting at Icheon Headquarters on the 30th
Also Announces Future Growth Infrastructure and ESG Management Goals

Jung-ho Park, Vice Chairman and CEO of SK Hynix.

[Asia Economy Reporter Jin-ho Kim] SK Hynix announced a gradual integration plan with its subsidiary 'Solidigm,' which was launched last year through the acquisition of Intel's NAND division.

On the 30th, at the shareholders' meeting held at the headquarters in Icheon, Gyeonggi Province, Park Jung-ho, Vice Chairman and CEO of SK Hynix, said, "We will integrate Solidigm and SK Hynix's SSD business to maximize synergy, strengthen the global operating system, and use this as an opportunity for NAND business growth."

He also expressed his commitment to enhancing shareholder value through stabilizing the profit structure. He stated, "By strengthening partnerships with global companies, we will improve investment efficiency and productivity to establish a stable profit structure base," adding, "We will raise the annual fixed dividend to 20% and implement quarterly dividends starting this year."

He plans to utilize 50% of the cumulative free cash flow generated over the next three years as additional resources.

Regarding future growth infrastructure, he explained, "The Yongin cluster will establish itself as a core base of the semiconductor ecosystem that coexists with materials, parts, and equipment (SoBuJang) partner companies while responding to long-term demand," and added, "We will build a research and development (R&D) center in Silicon Valley, USA, and make it a key hub for collaboration with big tech companies."

Regarding ESG management activities, he said that SK Hynix has set an interim goal to procure 33% of its power consumption from renewable energy by 2030 to achieve RE100 by 2050.

Meanwhile, at the shareholders' meeting, SK Hynix approved the agenda as originally proposed, including the new appointment of internal directors President Kwak No-jeong and President Noh Jong-won, and the reappointment of outside director Ha Young-gu. In particular, the new appointment of President Kwak, who is in charge of safety development and manufacturing, as an internal director is interpreted as SK Hynix's intention to strengthen its response to safety regulations.

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