April 25, 2024

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[THE INVESTOR] SK hynix CEO Park Sung-wook has been promoted to vice chairman as part of SK Group’s year-end executive reshuffle on Dec. 21.

Park, 58, has also been named the CIT chief of SK Group Supex Council, the group’s control tower.

While other top executives were replaced across SK affiliates, his promotion reflects the chip-making unit’s growing presence since its acquisition by SK Group in 2011. 

SK hynix CEO Park Sung-wook

Largely buoyed by upbeat DRAM sales, SK hynix has drastically improved profits in recent months, becoming the nation’s second-largest company in terms of market capitalization. In the fourth quarter, the company is expected to see more than 1 trillion won (US$838 million) operating profit.

Park is considered one of the top semiconductor specialists in Korea especially on DRAM that is used for temporary data storage. He has taken the helm since February 2013.

Next year, SK hynix is expected to ramp up efforts to catch up with rivals on NAND chips whose demand is soaring recently for long-term data storage for cloud and the Internet of Things services.

Senior vice president Lee Seok-hee, a former Intel engineer who joined SK hynix in 2013, was also promoted as president in the annual reshuffle.

By Lee Ji-yoon (jylee@heraldcorp.com)