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SK Group chief urges Korea-Japan chip integration, pitches joint LNG purchases from U.S.

Published: 30 May. 2025, 19:07

SK Group Chairman Chey Tae-won, who also serves as chairman of the Korea Chamber of Commerce and Industry (KCCI), offers policy suggestions during a meeting between People Power Party presidential candidate Kim Moon-soo and five major business organizations at the KCCI building in central Seoul on May 22. [JOONGANG ILBO]

SK Group Chairman Chey Tae-won, who also heads the Korea Chamber of Commerce and Industry, expressed a strong desire to integrate the semiconductor ecosystems of Korea and Japan during an interview with The Nikkei on Thursday.

“Given the manufacturing complexity of HBM [high bandwidth memory], we hope to rely more on Japanese companies with strengths in equipment and materials,” Chey said. SK hynix, an SK affiliate, holds a 70 percent share of the global HBM market.

Chey also spoke about SK’s investment in Japan’s Kioxia, formerly Toshiba Memory. While SK hynix currently holds an indirect stake in the company, Chey indicated a more proactive stance moving forward.

“We don’t want to be just a financial investor. We want to approach this as a strategic partner,” he said.

Chey underscored that SK hynix will continue to focus on HBM, noting that success in the memory chip business requires more than just offering low prices.

“Generic memory chips are not necessarily better just because they’re cheaper. What matters is developing the kind of semiconductors the customer needs, together with the customer,” he said.

While traditional memory chips differ little in performance and tend to compete on price, HBM allows manufacturers to customize specifications for individual clients, potentially increasing added value, Chey added.

SK Group Chairman Chey Tae-won, left, who also serves as chairman of the Korea Chamber of Commerce and Industry, meets with Japanese Prime Minister Shigeru Ishiba at the prime minister’s office in Tokyo on May 27. [KOREA CHAMBER OF COMMERCE AND INDUSTRY]

Chey also emphasized the need for deeper economic cooperation between Korea and Japan, especially as global trade dynamics shift.

“The World Trade Organization regime is breaking down, and the rules of competition are changing,” he said. “If Korea and Japan build an economic community, it would reduce a wide range of costs and improve our international competitiveness.”

On the energy front, Chey proposed joint purchases of U.S. liquefied natural gas, saying such collaboration would increase scale and bargaining power. He also highlighted the potential for cooperation in hydrogen technology and shared energy storage infrastructure.

As Korea and Japan mark the 60th anniversary of diplomatic relations this year, Chey stressed the significance of the milestone.

“It’s an important year for both countries, and we should maintain good relations,” he said.

On Tuesday, Chey met with Japanese Prime Minister Shigeru Ishiba at the prime minister’s office in Tokyo. He called for stronger economic cooperation between the two nations and closer coordination to achieve that goal.

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.
BY NA SANG-HYEON [[email protected]]