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He Gambled on Asia's Craziest Tech Company
1 day ago /
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Author：小编
In 2011, Hynix, the world's second-largest manufacturer of memory chips, was saddled with debts amounting to trillions of South Korean won and had become non-performing assets for several banks, with no one daring to take it over. That was until SK Group Chairman Chey Tae-won decided to buy Hynix, stating that he was betting on information becoming the next oil. Subsequently, he announced massive investments over the next decade to build chip factories, acquired LAMD, a U.S. maker of memory controllers, shed non-core businesses, and focused relentlessly on DRAM and NAND flash memory. Fifteen years later, Hynix's market value is approaching one trillion U.S. dollars, with annual profits expected to reach one trillion Chinese yuan.
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