Chairman Chey Tae-won is meeting top executives controlling US$240 billion worth of assets, from an artificial intelligence (AI) chip supplier to a mobile carrier to a battery maker, on June 28. The results may kick off the biggest shake-up of the group since he took over more than two decades ago, analysts said.
A six-year acquisition spree has burdened the group with 170 trillion won (S$167.5 billion) of debt by one estimate, just when crown jewel SK Hynix and its affiliates are about to embark on record investments to capitalise on AI memorychip demand.
The stakes are personal for Mr Chey, too, as he needs to find US$1 billion for a divorce settlement. Investors expect a slew of mergers and asset sales.
This story is from the June 29, 2024 edition of The Straits Times.
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This story is from the June 29, 2024 edition of The Straits Times.
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