Korean memory giant SK hynix Inc. is not thinking of divesting its stake in Kioxia Holdings, formerly Toshiba Memory, even if the No. 2 NAND player goes under an American competitor, said its CEO Lee Seok-hee.

“We had a certain goal when we made the investment, and therefore won’t consider redeeming it,”

he said in response to reporters’ questioning on his way to a meeting led by Trade, Industry and Energy Minister Sung Yun-mo in Seoul Friday.

There had been a speculation that SK hynix could sell its stake in the Bain-led multinational consortium that took over Kioxia Holdings in 2018 upon reports of U.S. memory and data storage companies Micron and Western Digital pursuing the acquisition of Kioxia. SK hynix had put up $3.5 billion for the deal.

He maintained the company’s capex plans for this year would be “conservative” as pronounced in a shareholders’ meeting in March despite global chip shortage.

Asked if SK hynix was invited to a semiconductor industry meeting along with Samsung Electronics at White House due on Apr. 12, he said he has not so far received any notice.

On the talks with German auto parts maker Bosch over a long-term memory chip supply, Lee said discussions were underway, but nothing yet has been determined.

By Pulse

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