SK Hynix CEO says top shareholder to secure $1.6 bln for M&A in chips, blockchain

SK Square Co

28/03/2022 07:45

SEOUL, March 28 (Reuters) - The CEO of South Korean
chipmaker SK Hynix  000660.KS  said on Monday that its largest
shareholder, SK Square  402340.KS , is considering merger and
acquisition deals involving chip companies. 
    "We are considering investment in companies ranging from
those that are big in scale to those that are small," Co-CEO of
SK Hynix Park Jung-ho, who is also CEO of SK Square, said at the
latter's annual shareholders meeting. 
    SK Square, which owns 20.1% of SK Hynix, plans to secure 2
trillion won ($1.63 billion) or more of its own for investments
over the next three years, as well as establish a joint
investment base with domestic and foreign investors, to invest
intensively in areas such as chips and blockchain. 
    SK Square executives were involved in SK Group's large-scale
chip M&As in the past decade such as the acquisition of SK Hynix
in 2012, SK Hynix investing 395 billion yen ($3.21 billion) in a
stake in Kioxia in 2017, and SK Hynix signing the $9 billion
acquisition of Intel's  INTC.O  NAND business in 2020, SK Square
said in a statement. 
    ($1 = 1,226.8400 won)
    ($1 = 123.1000 yen)

 (Reporting by Joyce Lee; editing by Jason Neely)
 ((joyce.lee@tr.com;))