The SK Group is pursuing a major shift toward an AI-centered business, using the semiconductor boom as a springboard. Reports say the group is shaping its vision for the next SK as Chairman Chey marks 28 years in office.
The SK Group is pursuing structural reforms to turn the semiconductor boom into a shift toward a business structure centered on AI, and attention is focusing on the group’s vision for the “next SK” as Chairman Chey Tae-won marks 28 years in office. The chairman instructed management that “the time has come to enter the AI transformation at full speed across the board,” while also strengthening dialogue with executives through measures including the introduction of AI agents.
Strong performance in the memory business, led by Hynix, is supporting the transformation. After recording a large-scale loss in 2023, the group returned to profit in 2024, and revenue reached a record-high level. With the sharp increase in HBM demand driven by expanded AI investment, forecasts have also emerged that revenue will exceed ¥50 trillion in 2027.
The group is restructuring its portfolio, with the number of companies changing from 716 in 2023 to 524 since the end of 2023. It is strengthening its financial base by selling, merging and transferring multiple businesses, substantially reducing net borrowings.
As part of the restructuring aimed at building full-stack AI infrastructure, SK hynix’s supply of AI memory, SK Telecom’s construction of AI data centers, and LNG and power businesses supporting data-center electricity are being coordinated, while international cooperation is also expanding.
Overseas media are also closely watching SK’s transformation, highlighting efforts to strengthen cooperation with Nvidia and its expansion strategy in Japan.