“Structural changes have occurred. It is clear that we are not moving in the same cycle as before,” SK Group Chairman Chey Tae-won said at a domestic press conference regarding the listing of SK Hynix American Depositary Receipt (ADR) held at Nasdaq headquarters in New York on the 10th (local time). This means that the artificial intelligence (AI) revolution has completely changed the memory semiconductor market cycle, which has been experiencing repeated booms and busts. Chairman Choi explained, “It may not mean that the cycle has completely disappeared, but now the gap between demand and supply is very large.” He added, "As you know, the lead time (procurement period) it takes to increase supply is large. There are many constraints and it is not possible to build a factory anywhere." Last month, SK Hynix announced a plan to invest 800 trillion won in the construction of a new fab in Gwangju together with Samsung Electronics. In fact, memory demand from global AI big techs is explosive, but supply is low.