Wall Street emerges as tool to draw Korean AI investment to US

SK Group Chairman Chey Tae-won, front row center, celebrates SK hynix's Nasdaq listing in New York, Friday (local time). Yonhap

By Lee Min-hyung

• Published Jul 13, 2026 8:01 PM KST

Chipmaker's Nasdaq listing signals shift in US trade strategy

SK hynix's Nasdaq listing signals a shift in Washington’s strategy to attract Korean investment.

Under the former Joe Biden administration, U.S. industrial policy centered on incentives, such as the CHIPS and Science Act, offering billions of dollars in subsidies to attract semiconductor manufacturing to the U.S.

While the strategy succeeded in drawing large-scale investments from global chipmakers, including Samsung Electronics and SK hynix, it also placed considerable financial pressure on companies to commit massive capital expenditures before realizing returns.

The recent Nasdaq debut of SK hynix, however, suggests that the U.S. is adding a new dimension to its strategy. By providing Korean companies with direct access to the world's largest capital market and a broad base of artificial intelligence (AI)-focused investors, Washington is increasingly creating an environment in which expanding U.S. operations becomes a commercially attractive decision rather than one driven solely by political or policy pressure.

As global demand for AI infrastructure continues to accelerate, investors have rewarded companies positioned at the center of the AI supply chain with premium valuations, allowing firms such as SK hynix, to secure funding under more favorable conditions while simultaneously strengthening their presence in the U.S.

The company's Nasdaq listing was met with strong investor demand, underscoring Wall Street's appetite for AI-related semiconductor stocks. Shortly after the listing, SK Group Chairman Chey Tae-won also signaled plans to expand SK Group's investment in the United States, saying the company has already invested more than $35 billion and is considering significantly larger commitments.

"SK is already investing more than $35 billion in the U.S. side ... My plan is that much bigger number," he said during an interview with Bloomberg TV following the listing.

Industry officials said the evolving approach reflects a meaningful shift in Washington's trade and industrial strategy. Rather than relying exclusively on subsidies or diplomatic and trade pressure to force overseas manufacturers to build facilities in America, the U.S. is moving to combine industrial policy with the financing power of Wall Street to reinforce its AI ecosystem and semiconductor supply chain.

The SK hynix case has also raised the possibility that more Korean companies could consider listings on U.S. exchanges, particularly as American investors continue to assign higher valuations to businesses tied to AI and advanced semiconductor technologies.

Despite growing interest, however, industry officials believe the number of potential candidates remains limited in the near term.

“Among other major Korean manufacturers, companies such as Hyundai Motor and LG Energy Solution are grappling with slowing demand in their respective industries, making additional overseas listings difficult to justify under current market conditions,” an industry official said.

“Raising fresh equity through a U.S. listing would also be less compelling without a strong growth narrative capable of attracting global investors.”

Samsung Electronics presents a case in contrast. Unlike SK hynix, the world's largest memory chipmaker maintains one of the strongest cash positions among global technology companies, reducing the need to raise capital through new share offerings.

With ample financial resources to fund future investments independently, Samsung has little incentive to immediately pursue a Nasdaq listing simply as a financing tool.