SEOUL: SK hynix Inc. CEO Kwak Noh-jung has announced ambitious plans for the company to make significant advancements in artificial intelligence chip technology by 2025, marking what he terms as a continuation of SK hynix's "Renaissance." This statement was part of his New Year's address, where he emphasized the need for the company to build on its recent achievements.

According to Yonhap News Agency, Kwak expressed his intention to push the company towards becoming a top-tier player in the semiconductor industry by focusing on strengthening its capabilities and overcoming weaknesses through relentless innovation. SK hynix has witnessed substantial growth, largely due to the increasing demand for high-bandwidth memory chips in the expanding generative AI market.

Local analyst reports indicate that SK hynix is projected to achieve an unprecedented operating profit of 23.2 trillion won in 2024, surpassing its previous record of 20.8 trillion won set in 2018. Kwak attributed this milestone to the concerted efforts of SK hynix employees and collaboration with its group affiliates.

In his address, Kwak underscored the importance of technological innovation, urging the company to concentrate on the rapid development and market delivery of state-of-the-art products. He acknowledged the challenges ahead but remained optimistic about the potential for further success. "I recognize the many challenges that lie ahead, which could threaten our future. However, I firmly believe we can seize these opportunities to achieve even greater success," he stated. Kwak encouraged his team to persist in making history through advancements in technology, business culture, and management, sustaining the company's Renaissance.