Seoul: SK Group Chairman Chey Tae-won stated that shares of SK hynix Inc., a key affiliate of the group, are anticipated to trend upward in the long term due to sustained demand for memory chips. Chey, who is also the chairman of the Korea Chamber of Commerce and Industry (KCCI), made these comments during a KCCI-hosted forum amid increased volatility in the chip giant's shares.

According to Yonhap News Agency, Chey remarked on the importance of holding onto SK hynix shares rather than frequently trading them, despite not being able to predict the stock price in the short term. This advice comes as shares of SK hynix, listed on the benchmark Korea Composite Stock Price Index (KOSPI), have nearly tripled since the start of the year but have recently experienced a downturn, closing at 1,842,000 won (US$1,243) after an 11.53 percent drop.

SK hynix has reinforced its position in the high bandwidth memory (HBM) market by advancing early into the technology, becoming a key supplier to Nvidia Corp. This strategic move capitalized on the growing demand for artificial intelligence (AI) accelerators, resulting in record earnings and allowing SK hynix to surpass Samsung Electronics Co. as South Korea's most valuable listed company by market capitalization for the first time in 25 years.