At CES 2023, attended by cutting-edge IT companies from around the world, SK Hynix is taking steps to discover future growth engines. News has emerged that SK Hynix met with Qualcomm, which is expanding its business areas such as IoT and automotive semiconductors, to discuss cooperation plans.

SK Hynix announced on the 6th that Park Jeong-ho, Executive Vice Chairman and CEO of SK Hynix, met with Qualcomm CEO Cristiano Amon in Las Vegas, USA, on the 4th (local time), one day before the opening of CES 2023, to discuss cooperation plans between the two companies.

According to SK Hynix, Vice Chairman Park reportedly had an extensive discussion with CEO Amon regarding the overall future of semiconductor-related industries. Executives from both companies, including SK Hynix President Kwak No-jung, were also present.

Qualcomm, the world's leading manufacturer of smartphone Application Processors (APs), has recently been expanding its business scope into areas such as automotive semiconductors and IoT. In December 2021, Qualcomm launched a suite of IoT services and has supplied over 30 solutions, including construction site inspection, smart asset management and tracking, and traffic management. Additionally, following the announcement of a collaboration with Mercedes-Benz last year, it is reported that the 'Snapdragon Cockpit Platform' and 'Snapdragon Automotive Connectivity Platform' technologies will be integrated into Mercedes-Benz vehicles.

Amidst this, SK Hynix, which is collaborating with Sapion on AI semiconductor development, is expected to expand its system semiconductor business and complete the acquisition of Key Foundry, thereby launching a full-scale offensive on the automotive semiconductor market in its 8-inch foundry by leveraging its legacy processes. With securing clients in the field of system semiconductors, which are future growth engines such as automotive and AI semiconductors, expected to be of paramount importance, it is understood that they are meeting with clients such as Qualcomm and AMD at CES to discuss cooperation.

SK Hynix explained, “We attach significance to the meeting between top executives taking place in line with Qualcomm’s expansion of its business areas,” adding, “We expect that this will serve as a starting point to further revitalize global cooperation, such as by supplying memory solutions in which we have secured world-class competitiveness.”

Vice Chairman Park stated, “We will continue to cooperate with global big tech companies across borders and industries,” adding, “Going forward, we will identify technology-based future growth engines in various fields with leading companies that drive the market.”