During a shareholders meeting, SK Hynix Inc. shared its plans involving future company growth and other societal contributions through technology. Besides conducting the meeting offline at Icheon Campus’ SUPEX Hall, SK Hynix also held an online real-time webcast. At the event, SK Hynix’s CEO, Lee Seok-Hee, gave comprehensive information on plans to boost shareholder value and other agendas.
Achievements Amid Challenging Times
Although the company went under challenging conditions due to the pandemic, Lee stated that it managed to accomplish good results. Some of SK Hynix’s achievements from 2020 include higher sales and profit, NAND Flash product upgrades, and server DRAM growth. According to CEO Lee, the company experienced business improvements due to its innovative technological developments and fast market demand response.
For its mid to long-term development, SK Hynix acquired Intel’s NAND and SSD businesses and participated in the RE100 initiative. SK Hynix also developed mass-production capabilities using EUV at its M16 plant and joined South Korea’s Yongin Semiconductor Cluster project. Lee also highlighted SK Hynix’s 2021 targets, including improving its strategic products, increasing production, and refining its core capabilities.
SK Hynix’s Vision of the Future
“We will promote the company’s growth with two main pillars of DRAM and NAND Flash and accelerate the growth of shareholder value,” said CEO Lee. Moreover, the South Korean semiconductor supplier announced it would incorporate the SK Group Chairman’s ‘Financial Story’ into its growth direction. Through the Financial Story, SK Hynix would enhance its corporate value, apply ESG management strategies, and reinforce its leadership in the global DRAM and NAND industry.
As part of its future vision, SK Hynix vowed to create social and economic values to enhance its business operations. SK Hynix would strengthen its NAND business considerably and create synergies through various acquisitions for the economic values. CEO Lee also said that its SSD technologies support both social and economic values. For instance, low-power SSDs could reduce carbon emissions by 93% compared to HDDs, establishing social values through their environmental contributions. Aside from creating social values, SSDs hold up economic values through their technological offers.
Aside from focusing on its DRAM and NAND leadership, SK Hynix revealed it would actively invest in three key areas. The three areas include research and development, ESG management, and future growth source discovery. For these goals, SK Hynix plans to establish multiple R&D infrastructures in Europe and the US. Furthermore, the company would increase its renewable energy usage in line with the ESG management. SK Hynix would also invest in various firms in the 5G, AI, and autonomous driving sectors. Additionally, SK Hynix unveiled its latest memory chip and ICT growth vision to address the global DRAM and NAND demand.
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