Ahn Cheol-soo urges block on SK hynix subsidiary Solidigm listing

South Korean lawmaker Ahn Cheol-soo has called for government intervention to block the potential Nasdaq listing of Solidigm, a subsidiary of SK hynix. Ahn criticized the move, describing it as a method designed to divert profits from SK hynix shareholders to the SK Group chairman and its affiliates.

Ahn argued that the proposed structure, which involves an intermediary entity called 'AI Company' in which several SK affiliates have invested, creates a complex layer of overlapping listings. He expressed concern that while Solidigm's current profits belong to SK hynix shareholders, a successful listing would dilute those interests while allowing SK affiliates to capture the resulting gains.

Labeling the situation a potential 'doomsday' for the domestic stock market, Ahn urged the administration and financial authorities to use all available public means to prevent the listing, questioning why the government has remained silent on the matter despite previous promises to advance capital market reforms.