Korean Regulators Say SK's Solidigm IPO in the U.S. May Violate Regulations

The South Korean financial regulatory agency has stated that Solidigm, a U.S. subsidiary of SK Hynix, may violate restrictions related to "dual listings" if it proceeds with an IPO in the United States. Lee Chan-jin, the head of the Financial Supervisory Service, indicated that the agency is examining whether Solidigm's potential IPO in the U.S. would require review under domestic regulations. Lee also mentioned that the regulators will focus on how to protect the interests of minority shareholders in the parent company SK Hynix, stating, "We have been closely monitoring this matter... Both the Financial Services Commission and we believe that this constitutes a violation of regulations related to 'dual listings.'"

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