On August 31, 2026, South Korean media outlet Maeil Business Newspaper reported that SK Group Chairman Chey Tae-won stated he is considering the possibility of establishing a memory semiconductor factory in Japan.

According to the article, SK Group Chairman Chey Tae-won, who attended the Korea-Japan Chamber of Commerce and Industry summit held in Sendai, responded to an interview with Bloomberg (US) and explained regarding factory construction in Japan, "We are looking at all of Japan. We are considering any location with abundant electricity and water." However, he did not clarify specific candidate sites or potential partners within Japan, and the SK Group side stated, "Investment in Japan is one possible idea, but it is not true that we are considering a joint venture factory."

Chairman Chey, who also serves as the chairman of the Korea Chamber of Commerce and Industry, also mentioned the importance of Korea-Japan economic cooperation at the meeting that day. He said, "It would be good to start with areas where synergy can be created through cooperation between the two countries, such as AI, advanced industries, supply chains, energy, and startups," and reportedly stated, "If we concretize the possibilities of cooperation one by one, trust between the Korean and Japanese business communities will be further strengthened."

The article pointed out that a special purpose company (SPC2) of Bain Capital, in which SK Hynix has invested, holds a 14.19% stake in Kioxia, a major Japanese NAND flash memory company, and therefore, the background behind SK Hynix considering investment in Japan also includes the aim of strengthening cooperation with local customer companies and partners.

Attention is also gathering in Japan regarding SK Hynix's investment, and a local broadcasting station in Miyagi Prefecture, a candidate site for the factory construction, also reported on the possibility of factory construction on the same day. Miyagi Prefecture has secured over 30 hectares of industrial land near Sendai, and it is evaluated as an advantageous location for securing industrial water and electricity, as well as human resources. The prefectural government is also actively attracting semiconductor-related companies, and Governor Yoshihiro Murai stated at a press conference on the 26th that while "Miyagi Prefecture does not know anything about SK Hynix's investment plan," it is promoting activities to attract semiconductor manufacturers and others.

Regarding this, South Korean netizens commented: "It's just that there's a possibility of building a factory in Japan; isn't it still not a concrete plan?" "If they're looking for places with abundant electricity and water, it makes sense that Japan would be a candidate." "If SK Hynix builds a factory in Japan, it would be a considerably large investment attraction for Japan." "With them also holding shares in Kioxia, it looks like semiconductor cooperation with Japan is progressing further." "Given the situation with investment pressure from the United States, SK Hynix probably has no choice but to consider multiple countries as candidates."

Also, "It seems Japan is also putting effort into attracting companies to grow its semiconductor industry again." "If a Korean company builds a large-scale factory in Japan, it would likely be quite big news in terms of Korea-Japan economic cooperation." "The key will be how well Japan can prepare conditions such as electricity, water, and human resources." "Even if they build a factory in Japan, I hope they proceed in parallel with investments within Korea." "Will building a factory overseas not affect Korea's semiconductor industry?" These kinds of comments were also seen. (Translation/Editing: Higuchi)