SK Group Chairman Chey Tae-won Responds to Recent Stock Price Decline: Long-term Uptrend Supported by Memory Chip Demand

Odaily Planet Daily News: SK Group Chairman Chey Tae-won believes that SK Hynix's stock price will show a long-term upward trend, supported by memory chip demand. "Demand for memory chips is growing exponentially, which is why the stock prices of SK Hynix and Samsung Electronics have surged rapidly since last year," he said at a forum hosted by the Korea Chamber of Commerce and Industry on Friday. When asked about the recent stock price decline, he stated that stock prices typically rise in line with market expectations and then undergo corrections after a period of excessive gains. "I believe demand for memory chips will persist, so the stock price trend will show an upward trajectory over time," he added. Side note: On Thursday, SK Hynix and Samsung Electronics shares fell 12% and 8.8%, respectively, after South Korean authorities imposed restrictions on leveraged funds tracking chip manufacturers. (Cailianshe)