▲ SK Group Chairman Chey Tae-won, who also serves as the head of the Chey Institute for Advanced Studies, presents a blueprint for Korea-Japan economic solidarity during the Nikkei Forum's "Korea-Japan Special Session" held at the Imperial Hotel in Tokyo, Japan, on June 9 (local time).
SK Group Chairman Chey Tae-won said on June 10 that the surging demand for semiconductors has accelerated planning for the period after the construction of SK Hynix's semiconductor plant in the Yongin cluster, and that he is considering potential locations while keeping both domestic regions and overseas options open.
Meeting with reporters after attending a panel discussion at the Nikkei Forum's "Korea-Japan Special Session" held at the Imperial Hotel in Tokyo, Japan, Chey was asked about the location of the next semiconductor plant after the completion of the fourth phase of the Yongin cluster. He replied, "As semiconductor demand continues to grow, we have to go somewhere, and preparing for that is becoming our homework."
Regarding the possibility of SK Hynix expanding its plants overseas, he said, "If it doesn't work out in Korea, wouldn't we have to look overseas?" He added, "It might not be a matter of 'we must build only in Korea.' The market could react completely differently later on."
He continued, "To build a plant somewhere, an immense amount of infrastructure is required," adding, "Power, land, people, and water must all be in place."
Chey's remarks are drawing attention as they coincide with recent reports that political circles and others are reviewing plans for Samsung Electronics and SK Hynix to expand their semiconductor facility investments into the Honam and Chungcheong regions.
This comes amid speculation that the semiconductor industry is being eyed to play a role in balanced regional development, especially after President Lee Jae-myung recently announced during a press conference marking his first anniversary in office that he would soon unveil a large-scale investment project to achieve a major shift in growth strategy.
However, Samsung Electronics and SK Hynix have drawn a line, stating they "have no knowledge" of any discussions with the government and that "nothing has been decided" regarding the possibility of investing in the provinces.
Chey also hinted that a multi-faceted review regarding the location of the semiconductor plant is underway, saying, "If we believe that customers or other countries will offer us significant benefits, we can also make demands. How we act upon receiving those demands is a test of our capability. There is also a need to ensure at least a minimum level of satisfaction for our stakeholders."
He added, "We will make a decision on where and how to build after considering everything comprehensively. For now, our focus is on building the Yongin cluster."
Regarding cooperation with Nvidia CEO Jensen Huang, who recently visited South Korea, Chey said, "I expect the scope of our cooperation to continue to evolve in the future." He added, "Jensen Huang and I agreed on the need for an ecosystem where artificial intelligence (AI) can continue to grow, and that Nvidia's leadership alone is not enough, requiring more collaboration."
Regarding demands for the distribution of excess semiconductor profits, he remarked, "Our management goal is to 'make stakeholders happy,' and stakeholders naturally include shareholders, our members, business partners, and, in a broader sense, the entire nation."
He continued, "The methodology of how to share happiness can differ," adding, "Paying a lot of taxes or creating more investments and jobs is also important. If unavoidable rules are set, we need to follow and apply them well."
However, he noted, "If other problems or side effects arise in the future, we must continue to find new ways to resolve those issues socially," sharing his thoughts on the introduction of new systems such as excess profit distribution.
Chey, who has consistently emphasized the importance of economic cooperation between South Korea and Japan, proposed during the Nikkei Forum discussion the previous day (June 9) the creation of a "big tent" to bring together cooperation agendas. He suggested that if the two nations actively join hands in sectors such as semiconductors, AI, and energy, they could leap forward as "rule makers" in the new international order.
He shared that the Korean business community, including SK Group, is making or exploring investments in Japan through Japanese investment funds, while Japan is also investing in Korean companies and ventures. He emphasized, "It is important to foster an environment where the market is more integrated and operates as one."
(Photo courtesy of SK Group, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.