South Korean regulator says Solidigm, a subsidiary of SK Hynix, could violate dual listing regulations if it goes public

South Korea's financial regulatory authority stated on Monday that an IPO by Solidigm, the US subsidiary of SK Hynix, may violate restrictions regarding "dual listings." Lee Chan-jin, head of the Financial Supervisory Service, said that Korean regulators are currently reviewing whether Solidigm must undergo scrutiny under domestic regulations if it proceeds with an IPO in the United States. When asked how regulators would protect the interests of minority shareholders in the parent company SK Hynix if Solidigm goes public, Lee Chan-jin responded: "We have been closely monitoring this matter... Both the Financial Services Commission and our agency believe this would constitute a violation of the relevant 'dual listing' rules."