TechFlow news — SK Hynix, the South Korean chipmaker, announced that its largest shareholder, SK Square, is considering mergers and acquisitions involving chip companies. Park Jung-ho, co-CEO of SK Hynix and CEO of SK Square, stated during the annual general meeting: "We are evaluating various investment opportunities, ranging from large to small-scale enterprises."
SK Square, which holds a 20.1% stake in SK Hynix, plans to invest 2 trillion won (approximately $1.63 billion) or more over the next three years. The company also intends to form joint investment consortia with other investors, focusing primarily on semiconductors and blockchain technologies.
Established in 2021 as a spin-off from South Korea’s largest telecom operator SK Telecom, SK Square manages non-telecom and technology divisions, concentrating on emerging high-tech sectors and semiconductor businesses. Its subsidiaries include SK Hynix, ONE Store (an app marketplace operator), and e-commerce platform 11Street.
According to earlier reports by Edaily, Hansang Lee, CEO of SK Planet—the division within SK Group responsible for blockchain—announced that the cryptocurrency “SK Coin” (provisional name) will complete development of its blockchain services and release a white paper in Q2, launch in Q3, and list on exchanges in Q4. If realized, this initiative would make SK Square the first subsidiary among South Korea's top conglomerates to develop a native crypto token.
