Ahn Cheol-soo: "Chey Tae-won, don't think about stabbing shareholders in the back"

Ahn Cheol-soo: "Chey Tae-won, don't think about stabbing shareholders in the back"... Demands explanation regarding Solidigm listing (Seoul Economic Daily)
On the 8th, Ahn Cheol-soo, a member of the People Power Party, demanded that SK Group Chairman Chey Tae-won clarify his position regarding the rumored Initial Public Offering (IPO) of Solidigm, a subsidiary of SK Hynix.
On his Facebook page that day, Rep. Ahn stated, "Chairman Chey must clarify his position on the Solidigm listing even now."
On the 8th, Ahn Cheol-soo, a member of the People Power Party, demanded that SK Group Chairman Chey Tae-won clarify his position regarding the rumored Initial Public Offering (IPO) of Solidigm, a subsidiary of SK Hynix.
Rep. Ahn urged on Facebook that day, "Chairman Chey must clarify his position on the Solidigm listing even now," adding, "Stop thinking about stabbing shareholders in the back and speak clearly."
Rep. Ahn noted that Bloomberg reported the previous day that Goldman Sachs and Morgan Stanley had been selected as the underwriters for Solidigm's IPO. He further introduced that the report included plans for a 2027 listing and that the company's valuation could reach $100 billion at the time of listing.
He argued that if Solidigm undergoes a dual listing, it could undermine the interests of existing SK Hynix shareholders. Rep. Ahn pointed out, "Our shareholders, especially retail investors, have suffered massive financial losses due to the issue of dual listings of subsidiaries, as seen in the cases of LG Energy Solution and Doosan Bobcat," adding, "SK Hynix's subsidiary, Solidigm, cannot avoid the controversy of dual listing either."
He continued, "If external funds flow in through an IPO, SK Hynix's stake in Solidigm will decrease, and the share of existing shareholders will also shrink. This is another piece of bad news for Hynix stock, which has already fallen more than 40% from its peak due to the correction that began in July."
He also criticized SK's method of explanation. Regarding SK's responses since the Solidigm IPO rumors surfaced in August—such as "reviewing various options," "nothing has been finalized," and "long-term enhancement of shareholder value"—Rep. Ahn criticized them for "consistently providing evasive explanations."
He questioned, "Are you saying that behind the scenes, you have been hiring personnel for the Solidigm IPO, selecting underwriters, and calculating the listing value? How can we accept this kind of 'backstabbing management' unless you view shareholders as mere cash cows?" He also urged the company to reveal the reason why it is pursuing subsidiary fundraising while risking the dual listing controversy.
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Way to go, Cheol-soo!
Chey Tae-won, act like a man.