Chey Tae-won to chair board of SK hynix's US AI investment arm

SK hynix has named its US-based AI investment entity HYAICO Corporation, with SK Group Chairman Chey Tae-won set to serve as board chairman and personally oversee the execution of investment strategies aimed at expanding global AI infrastructure, including AI factories.

According to a large shareholding report SK hynix filed with the US Securities and Exchange Commission, HYAICO Corporation was listed as the official name for the AI-focused investment vehicle the company had previously announced — under the working title "AI Co." — in January.

SK hynix had earlier announced plans to establish an AI solutions company in the United States and commit up to $10 billion to it. The company intends to convert its existing US NAND flash subsidiary Solidigm into an AI-focused operation, using it as a vehicle to invest in American AI innovators and channel the capabilities gained through those investments into group-wide synergies for SK Group.

Chey will chair the board, which includes a number of current and former senior SK Group executives. Song Hyun-jong, president of SK hynix, will serve as CEO, while former SK hynix Vice Chairman Park Sung-wook, SK hynix CEO Kwak Noh-jung and SK Telecom CEO Jeong Jae-heon have joined as directors.

Chey is expected to draw on his global network and leadership in AI to strengthen HYAICO's operational execution, directly overseeing key investment decisions to accelerate new growth opportunities.

SK hynix plans to manage HYAICO's investment capital separately from profits generated by Solidigm's existing business operations.