SK’s Chey Says AI Is Industrial Evolution, Plans Ecosystem With US Partners

Interview tied to Nasdaq debut

“AI still incomplete ... about five more years of growth

Focus on data centers that can lower costs”

“I want to build an ‘AI society’ with US investors and partners.”

SK Group Chairman Chey Tae-won laid out a vision for the conglomerate to play a central role in ushering in a new era of artificial intelligence and helping lead it, in a video interview with US tech and business outlet The Six Five released on July 14. The interview was conducted in the US on July 10, the day SK Hynix’s American depositary receipts started trading.

AI is still incomplete and could become far more reliable in about five years, Chey said, comparing the technology’s development to a child growing up. At that point, productivity would improve sharply and broader adoption would begin a virtuous cycle. He described that future as industrial evolution rather than a cycle.

Getting there will require sustained investment, he said. AI remains too expensive, making technological breakthroughs to lower costs essential. Memory chips, a key part of AI infrastructure, are also too costly and supplies are insufficient, creating a bottleneck the industry needs to resolve.

Chey said SK Hynix’s New York listing was meaningful because it gives the company access to global markets. It broadens financial options, brings in new shareholders and creates opportunities for the chipmaker to grow into a more global company. The listing also gives it more ways to pursue investment.

He also signaled plans to expand investment in the US. SK will increase spending on AI data centers, AI ventures and research and development centers, and also expand its Indiana plant. The facility is set to handle production related to high-bandwidth memory, or HBM, particularly advanced packaging processes. He added that SK needs to create new value for all stakeholders through business models such as Memory as a Service, or MaaS.

Chey also addressed his role as the group’s chairman. Chief executive officers at affiliates need to focus on annual results, with even the longest planning horizon usually capped at about three years, he said. A chairman, by contrast, must look much further ahead and lead in areas that have yet to be developed in order to create new opportunities and businesses.

He said the chairman’s role itself has changed. In the past, the chairman was the final decision-maker while others worked on the front line. That is changing, and he believes he also needs to be on the front line. That means meeting partners, discussing issues, creating new options and working through problems together when they arise.

Asked about Jensen Huang, Nvidia’s chief executive officer and a key partner, Chey said Huang consistently emphasizes the importance of speed, execution and knowledge. In the AI era, it is not enough to simply manage, he said. One has to move first and execute quickly, a mindset he said he learned from Huang.

Kang Hae-ryeong, Hankyung.com reporter hr.kang@hankyung.com