When 20-year SK hynix veteran Boyeon Kim was in college, she estimated only around 10% of the students in her engineering program were women. The lack of women in engineering classes prompted those on campus to distinguish students into three groups: men, women, and “engineering women”. Despite graduating years after Kim, Yujin Lee, who joined the company in 2022, admitted she did not expect to find female mentors or even work with other women in the engineering field.

The experiences of Kim and Lee in South Korea are echoed elsewhere around the world. In the U.S., women only accounted for 11.6% of all employed electrical and electronics engineers in 2023. To address this significant imbalance, International Women in Engineering Day (INWED) is celebrated annually on June 23 to raise the profile of women in engineering and inspire more young women to pursue careers in this profession.

To mark the occasion, Kim and Lee from DRAM Development sat down for a one-on-one discussion at SK hynix’s Icheon headquarters. The pair covered a range of topics including progress for female engineers, their achievements, key lessons, and future goals.

Changes & Progress for Female Engineers

Yujin: “Since you’ve been in this industry for a much longer time than me, I’ve always wondered what it was like back when you first started. Did you ever feel like you were at a disadvantage because you were one of the few women in the office?”

Boyeon: “Even when I was just one of a handful of women in class or at work, I can’t remember ever being explicitly discriminated against because I was a woman. But I did somewhat feel like I had to work harder than other team members to be recognized in a traditional workplace.”

Yujin: “Then, have you experienced any changes since you started your career?”

Boyeon: “While the culture was predominantly androcentric when I started out, it feels like it has now shifted toward recognizing and celebrating diversity.”

Yujin: “When I joined the company, I felt that women in the industry generally didn’t face many obstacles but were still encountering issues in areas such as networking. However, I received a pleasant surprise when I was assigned to my team: two of the leaders were women. It’s encouraging to see experienced female leaders around me who I can learn from. I’ve also benefited significantly from the design schools, mentoring opportunities, and seminars offered by our team’s senior members.”

Female Mentors: A Guiding Light for Young Engineers

Yujin: “Did you have female mentors when you were a young engineer?”

Boyeon: “I was fortunate to have a senior female colleague on my team around my fourth year. She helped and supported me as I grew, and she remains a reliable mentor to this day. Even after nearly two decades, I always seek her advice when faced with challenges and still find it beneficial to ask her questions.”

Yujin: “I was also lucky enough to meet various mentors. My interest in the semiconductor industry sprouted from meeting a mentor at a university alumni networking event, while I decided to work at SK hynix after meeting another mentor during my internship here. In addition to those mentors, it’s also been so inspiring to work under you and another female team leader. As a leader, what is your approach to mentorship?”

Boyeon: “When mentoring junior colleagues, I often discuss their current career status and how they want to progress. People can become somewhat complacent after working for years at a company, so, in order not to get tired, it’s important to keep planning for their future growth and envisioning a bigger picture.”

Yujin: “I am always grateful when you and my other senior colleagues take the time to help me despite your busy schedules. Often, I feel like I’ve grown significantly after just listening to your thought processes. I also apply many of these lessons to my daily life outside of the office. When I see you balance work and family while living your own life, it makes me think that I can do the same in the future.”

Boyeon: “I’m glad that you feel inspired. When it comes to talking with seniors, please don’t hesitate to ask questions. Seniors actually enjoy receiving questions from juniors and are happy to answer them.”

Eye-Opening Lessons That Transformed Perspectives

Boyeon: “You’ve been working at SK hynix for about two years now. What is something that you can say you are proud of accomplishing?”

Yujin: “Although I haven’t worked here for long, I’m satisfied with becoming familiar with my daily tasks. My latest project was regarding peripheral circuit design, and I’ve managed to approach my work intuitively after six months.”

Boyeon: “Is there anything you’ve learned from this project?”

Yujin: “My logical thinking skills have improved, and this has allowed me to enjoy my work while also feeling a sense of reward. In general, I have also learned that when I hurry to finish work, a problem generally occurs in the end. For example, there was one instance just after I started working here when I didn’t apply all the known conditions to simulations when verifying circuit designs. After a defect occurred during a wafer test, I learned that I needed to apply all relevant conditions to simulations in order to verify them—even if there are more than 1,000 conditions. I’m now more thorough in my approach to work.”

Boyeon: “Yes, there is a lot to learn from our mistakes and failures. Likewise, my most memorable project wasn’t one that was successful from the beginning. On the contrary, I learned the most from a project where we performed quite poorly. Even when our team had to work overtime every day to interpret the malfunctions that occurred in our product design, this tough experience was really valuable as it helped me and my team members develop our skills.”

Yujin: “Do you think the team gained anything unexpected from this experience?”

Boyeon: “It made us realize the importance of teamwork. We saw first-hand how the skill of each member comes together to become the overall skill of the entire team.”

Welcoming the Next Generation of Female Engineers

Boyeon: “Let’s talk about what lies ahead for us now. What is your goal for this year?”

Yujin: “I think I’ve moved on from merely absorbing knowledge from my senior colleagues to now thinking about the direction I should take by myself. Going forward, I want to become an engineer who works efficiently and uses various tools to enhance my design methodologies.”

Boyeon: “My goal is always to become a better leader. As a team leader, I see it as my responsibility to foster members’ growth and development. As SK hynix leads the DDR5 market, our team goal is to ensure the company maintains this position as we move into the DDR6 era.”

Yujin: “Lastly, what advice would you give to your younger self or to younger women who want to pursue a career in this field?”

Boyeon: “Like everyone else, I wanted to immediately be good at my job. This made me become impatient with myself. But I learned that it’s really crucial to be patient and draw a picture of how you want to grow and take small steps every day to reach your destination. What about you?”

Yujin: “Right, I can see that looking at the big picture is important when it comes to personal development. If I was to give advice, I would say if you’re inspired and motivated to tackle complex but rewarding puzzles, I’m sure we’ll make a great team here at SK hynix.”

The post INWED 2024: Junior & Senior SK hynix Workers Share Their Experiences as Women Breaking Barriers in Engineering first appeared on SK hynix Newsroom.

“Create the highest, grandest vision possible for your life, because you become what you believe.” These words from media personality Oprah Winfrey are particularly poignant on International Women’s Day (IWD) as they highlight how belief helps women achieve success at work and beyond.

This mentality has undoubtedly played a part in the rise of female leaders across offices worldwide. At SK hynix, efforts to boost inclusion have seen the number of female executives and team leaders rise in 2022 from the previous year. To encourage the inclusion of more female workers and leaders, it is important to hear from women with values and traits that inspire those around them.

In a special interview to mark IWD 2024 on March 8, the SK hynix Newsroom asked six women from the company’s offices around the world to describe a belief that motivates them to improve themselves. From striving for the highest standards to spreading positive energy, discover the beliefs that have taken the interviewees to the next level.

What Belief Inspires You to Improve Yourself Both Inside and Outside of Work?

“Being on a team that manages the technical and quality issues of SK hynix’s flagship products including GDDR¹ and HBM² can get a bit overwhelming at times. The fact that my decisions could impact our company’s revenues or product returns keeps me on my toes. But I view such challenges as opportunities. Since setbacks are inevitable, we must focus on the next steps instead.

“Also, I was the first female and youngest expat to assume this role, which added even more pressure. It didn’t make it any easier that I had to move to the U.S. from South Korea by myself. However, I found that you often don’t realize what you’re capable of until you’re challenged. Facing challenges is a testament to one’s capabilities and a catalyst for growth. So, I always say…Just go for it!”

¹Graphics Double Data Rate (GDDR): A type of high-performance memory designed for applications with high bandwidth requirements, such as graphics processing units (GPUs).
²High Bandwidth Memory (HBM): A high-value, high-performance product that revolutionizes data processing speeds over conventional DRAMs by vertically connecting multiple DRAMs with through-silicon via (TSV) technology.

“I’m a firm believer in reaching for the highest standards of excellence in my work and beyond. To reach such levels, you need to find ways to become efficient and prevent problems from recurring. That’s why I create guidelines that track the difficulties and problems I run into when working on projects. This habit has made it easier to find solutions for issues at work.

“I also feel proud when my colleagues are able to reduce their work times and become more efficient by following my guidelines, because I know how satisfying it is to see yourself growing. I like to tell my colleagues to strive for the best standard in everything you pursue.”

“My high school basketball team was all about positive vibes, and this team culture translated into good results for us. Our positive attitude and desire to improve is summed up by the fact that we would sometimes even practice without our coach.

“Just as I did on the basketball court, I always have an upbeat attitude at work. Although everyone occasionally lets their emotions get the best of them, I’ve been fortunate to work with team members and customers who maintain their positive energy no matter what. You want to work with these kinds of people and help them in even the smallest ways. That’s why I have an optimistic approach to work as I believe spreading good energy makes all the difference.”

“At our fab in Wuxi, I was nominated by my co-workers as the ‘model employee’. It was truly gratifying to know that I was picked for my work ethic and leadership as I feel tremendous satisfaction when my efforts are acknowledged by the people around me. It’s also equally significant when I get the chance to make an impact in my organization and community. So, when I was chosen to be the company’s representative at China’s National People’s Congress, promoting SK hynix’s various contributions to the public sector was at the top of my mind.

“In the process, I really wanted to address the needs and well-being of my coworkers and help solve issues we see in society as being a leader comes with the moral responsibility to look out for others.”

“I enjoy finding the optimal solution to problems as I know that my capabilities will improve as a result. When travelling with friends, I identify and resolve any issues in the itinerary, including restaurants, transport, and so on, to make our journey more comfortable. Likewise, at work I am never phased by any issues and will collaborate with my co-workers to find solutions.

“No matter how much time it takes, I’ve learned that persistent determination paves the road to solving the problem. The key is to be careful, deliberate, and show perseverance in everything you do. In the long run, it makes life easier for myself and the people around me.”

“Straight out of college, everything was new for me at work. I would just follow what my seniors were doing all the time. Taking notes from them, I gained knowledge as an engineer and the right attitude. I feel lucky to have met so many great co-workers during my time at the company.

“My parents named me ‘Hane’ which means ‘exemplary’ in Korean. They were the ones who showed me that anyone could change the world one small step at a time. Fortunately, I was lucky enough to meet other role models throughout my life who helped me get to where I’m today. So, just as my name suggests, I also want to become someone who can lead others in the right direction.”

The post Women of SK hynix Reveal Inspirational Beliefs on International Women’s Day 2024 first appeared on SK hynix Newsroom.

When Mi-sook Kim first started working at SK hynix’s global HQ in South Korea over 30 years ago, she noticed that most of her female colleagues retired after getting married and having children. However, following significant cultural shifts, Mi-sook now sees an increasing number of female coworkers “putting themselves first” by focusing on their career to build a better life.

While progress has been made in improving women’s rights and opportunities in the workplace, women are still underrepresented in many professional fields, particularly tech-related sectors. Looking at the semiconductor industry, a 2022 report from Accenture for the Global Semiconductor Alliance (GSA) reveals that women represent only 20-25% of the workforce. Going up the ladder, less than 10% of leaders in the industry are women, according to a report from the same source in 2021.

At SK hynix, gender diversity is above the industry average as women accounted for over a third (37%) of its entire workforce as of 2021. In order to further encourage diversity and equality in the company, SK hynix also introduced its ESG strategy framework PRISM in 2022. One of its key goals includes increasing the gender ratio of the board to 30% by 2030.

These measures highlight the company’s focus on promoting gender equity, which is also the theme of this year’s International Women’s Day (IWD). Held on March 8^th, IWD 2023 has a message to #EmbraceEquity, a call for everyone to recognize that each person has different circumstances and highlights the need to allocate resources and create opportunities to ultimately reach equality for women.

Three Global Offices, Three Women Role Models

To mark this year’s IWD, SK hynix’s newsroom interviewed three female employees across its global offices who are making a difference in their workplaces. In addition to Kim who is a team leader in the Korean HQ’s HR Planning team, SK hynix America’s Rene Chostner is also an experienced leader who has been working in the tech sector for over 20 years. At the Chinese HQ in Wuxi, Shalan Zhou is a proud female engineer who desires to “share happiness” at work. The trio shared insights about their journeys, lessons learned, and values they have maintained throughout their careers.

Q. Can you tell us about how your career has progressed at SK hynix? What are some of your highlights while working at the company?

Currently in charge of employee compensation, personal tax withholding, and welfare support, Kim has emphasized precision in her work while handling various tasks during her three decades at SK hynix.

Kim: “I place a special focus on the practicality of each process and the elimination of as many human errors as possible. In 2015, I received the CEO’s award when I was part of a taskforce that investigated the criteria for the changed standards to employment insurance premiums. We received a total refund of 10.5 billion won (USD 8.3 million) as a result.”

At SK hynix America, Senior Director of Venture Investment Chostner and her team drive strategic investments in relevant startups in fields including memory, fabrication process, AI/ML, data centers, IoT, and mobility technologies. The team has invested nearly USD 100 million since 2016, leading to successful IPOs and M&As.

Chostner: “Our investment activities not only provide market intelligence and early access to innovative technologies for the advancement of our current products, but they also aim to distinguish potential future growth engines for SK hynix to provide optionality and speed in the face of market disruptions and paradigm shifts. The journey has been exciting and humbling as we collaborated with and supported our portfolio companies. We are striving to create more strategic value and a positive impact for both SK hynix and the startup/venture community.”

In China, Zhou and members of the Analysis Team have proved to be pivotal in the advancements of the company’s products.

Zhou: “Since joining my team 15 years ago, I analyzed an array of products including the company’s flagship DRAM products. As our team has introduced new techniques in product analysis whenever a product goes through an upgrade, our analytical skills have been enhanced tremendously which have contributed to improving the quality and yield of products.”

Q. What are some of your most important lessons on developing one’s career? And can you describe the most important values that you uphold as a worker in as few words as possible?

For Kim, her key word is “accountability.” Throughout her long career at the company, she has been known to help colleagues with tasks that are outside of her duties and has welcomed changes in her role.

Kim: “I have always had an interest in things that were even outside of my work scope, and I have always thought that I was solely responsible for the outcome of my work. Even when people would ask me about tasks that I wasn’t familiar with, I would tell them that I would check and report back to them. This naturally led me to find out about work outside of my comfort zone, and I became more open to changes.”

Chostner noted the three “A’s” that have carried her throughout her career: “Ask—for information, opportunity, support, and feedback. Assert—your ideas and opinions with confidence. Act—follow through and own your work.”

As someone who identifies herself as “cheerful” and “enthusiastic,” Zhou placed “facing difficulties with a positive attitude” as her most important lesson learned. “You have to continue learning and keep up with the pace of other members who are developing themselves,” she added.

Q. What are some things that you are doing to ensure you continue growing as an influential worker at the company? How do you think you can help or influence other female employees to reach their full potential?

Collaboration is what comes to mind for Kim.

Kim: “You don’t get promoted for just doing your job well. To become a successful leader, you need to focus on the people who are around you. To make the team perform well, you need to deal with those people, develop them, and, finally, motivate them to do a good job. So, I emphasize communication that encourages people. I also take time to share my knowledge. Every year, I set aside one-on-one time with my team members to hear about their challenges and to suggest solutions for them.”

It is her philosophy to “give out the greatest amount of encouragement and rewards” for even the “smallest of positive results.”

Chostner finds that “unconscious bias” at the workplace limits the potential of workers—whether female or male. As a leader, she wants to ensure that workers are not afraid of trying new tasks and taking on new challenges. “Knowing that unconscious bias exists is not enough. We need to look for it and commit to take steps to counteract it.”

Similarly, Zhou stresses a “happy workplace atmosphere” that can enhance cohesion in her office by also running one-on-one sessions. These happy hours with female members of the department carry the intention of “fully understanding their needs and ideas while encouraging them to actively put forward their suggestions and opinions.”

As Kim says, leaders need to “give first” to ensure “those who grow with their support become the ones who have their backs later.”

Q. What is something that you would like to say to all your fellow female employees at SK hynix? What are some things that they should keep in mind or remember as they manage various roles in the workplace and in their homes?

Kim: “If there are any female members who are afraid to be a leader because they are not sure they can juggle work and family at the same time, I hope they start to change the things that they have control over bit by bit, get people around them on the same side, and expand their horizons to achieve growth.”

Chostner: “Just like oxygen masks on an airplane, make yourself a top priority. Let’s allocate time and energy for self-care.”

Zhou: “Women should be happy both in the workplace and in their personal life. We have many roles in our life as children, wives, parents, and colleagues among others. Balancing work and family is a lifelong homework for everyone.”

SK hynix Continues to Develop and Encourage Women

Individual prowess and effort are what led to the work accomplishments of these three women, but support from SK hynix will become a most important factor in making sure that more female talents follow in their footsteps.

Accordingly, Chostner believes that the company can provide its female workers with adequate support for career development by “recognizing and removing additional hurdles rooted in unconscious bias and establishing a clear career development track, a transparent guideline for promotion, a mentorship program for all genders, and an unconscious bias training company-wide.”

Current employee support initiatives at SK hynix include the Women in Leadership Program which provides tools and experiences for female employees to grow into role models at the company. Family-friendly programs in the form of special leaves and financial assistance for parents are also available to limit work interruptions of employees.

In addition to supporting and encouraging female employees like the three mentioned above, SK hynix strives to become a global company that values diversity, inclusivity, and equal opportunities for all employees by implementing policies and programs addressing gender inequality in the workplace.

In line with the theme of this year’s IWD, SK hynix wants its employees and stakeholders to know that it stands with its employees all across the world who #EmbraceEquity.

The post International Women’s Day Interview: How SK hynix is Cultivating the Female Leaders of Tomorrow first appeared on SK hynix Newsroom.

As one of the world’s largest semiconductor manufacturers, SK hynix has always been committed to delivering innovation and excellence. At the core of our breakthrough technologies and products is a global team of employees from diverse backgrounds and cultures, each with their unique perspectives, experiences, and expertise.

To mark Global Diversity Awareness Month, which celebrates the diversity of minds and beliefs held by all cultures around the world, let’s take a look at how SK hynix is fostering a corporate culture of inclusion, and creating an environment in which every employee feels valued and respected.

Diversity Is Policy

“SK hynix strives to enhance both corporate culture and technological competitiveness, with diversity at the heart of maintaining such a talented workforce,” said Sang Kyu Shin, Head of Corporate Culture at SK hynix. “As a global company, I am convinced that securing and fostering human resources that include people from diverse backgrounds, regardless of their gender, race, education, religion and other, is a critical factor to our long-term competitiveness.”

In accordance with PRISM, SK hynix’s goals by 2030 include strengthening the diversity of governance with a gender and nationality diversity ratio to at least 30 percent, tripling the ratio of women in executive positions, ensuring at least 10 percent of team leaders are women¹, and supporting local communities by helping create 1,000 jobs for people with disabilities or low incomes².

In selecting candidates for specific jobs, SK hynix focuses on the competencies and expertise that are required for the role. As of 2022, at least 94.5 percent of people are hired for permanent positions, providing a stable and secure environment in which people can work.

Empowering Women

SK hynix is committed to gender equality. It’s no secret that, historically, semiconductor companies worldwide have been characterized by a lack of gender diversity. According to a study by GSA and Accenture, women represent 10-25 percent of the entire semiconductor workforce, with the majority of companies still having less than 1 percent of women in director roles. As an industry leader, SK hynix recognizes the importance of addressing this issue head on and setting a standard. In doing so, it is breaking down barriers and redefining workplace culture and attitudes both in Korea, where the company is headquartered, and throughout operations worldwide.

At SK hynix, 26.3 percent of managers³ are female⁴, and the company is making every effort to increase this ratio. This includes through the Women in Leadership Program (WLP), which supports and encourages the growth of female employees across the SK Group. The training program includes meetings with female executives from SK Group companies, who serve as positive role models for the participants to grow within the company. Furthermore, the company is preparing to sign the Women’s Empowerment Principles (WEPs) CEO Statement of Support to demonstrate its commitment to empowering women, from nurturing female leaders to eliminating gender discrimination in the workplace.

SK hynix is also launching initiatives aimed at helping families balance work and life. This includes a three-month leave for taking care of children entering elementary school, extending shortened working hours during pregnancy, and implementing infertility treatment benefits and leave policies.

Recognizing Junior Talent

When a person leaves their job within several years of joining a company, the Korean job market often requires that they start over as a new recruit. SK hynix believes such practices have no place in the modern workplace. The Junior Talent program⁵, introduced in 2021, recognizes the experience that people have accrued even if their work history is only a few years, and supports them in their new jobs accordingly. The company organizes large-scale job fairs three times a year to promote the Junior Talent program.

In October 2021, SK Group signed a partnership with the Korean government to participate in the Youth Hope ON project. The project aims to create 32,000 jobs for young people from various backgrounds. SK hynix is committed to fostering semiconductor talent, recruiting young people from underprivileged communities and nurturing the innovative young entrepreneurs of tomorrow.

Underrepresented Communities Matter

SK hynix takes great pride in its commitment to ensuring the inclusion of underrepresented groups within its global operation, which includes a non-discriminatory recruitment process. Every effort is made to accommodate employees’ personal needs so that they can perform to their full potential.

As part of ongoing efforts to recruit people from all backgrounds, SK hynix aims to create 1,000 jobs by 2030 for people with disabilities or from low-income households to support local communities⁶.

The company takes things a step further with its Happymore subsidiary⁷. Happymore is a workshop for people with disabilities established in 2016, where employees make and clean smocks used in semiconductor cleanrooms. As of 2021, 405 persons with disabilities worked as full-time employees, making this the nation’s largest operation of its kind. Happymore also runs diverse programs to support and motivate workers so they can continue to grow into independent professions. Thanks for these efforts, Happymore was selected as an Exemplary Workplace by the Korean government in 2021.

Dedicated To Becoming a Global Top-tier Company

Based on the PRISM framework, in 2021, SK hynix achieved 11 percent women representation on its Board of Directors, created 918 jobs for people with disabilities and low-income households⁸, and generated KRW 120.3 billion in social contribution value. These are just some of the ways in which SK hynix is improving the company, and will strive to achieve even greater targets in 2022 and beyond.

SK hynix remains committed to bringing the best people on board without discrimination, and bringing the best out of them. As proud as the company is of its progress and success, SK hynix does not want to stop here and will continue on its journey to become a global top-tier company that sets the standard in the industry, and leads the way.

^1~2Figures from domestic sites

³Manager positions at SK hynix include Director (excluding Executive Director), Professional Leader (PL), Independent Part Leader, Field Manager, and Line Leader.

^4~8Figures from domestic sites

The post Diversity Drives Innovation at SK hynix first appeared on SK hynix Newsroom.

SK hynix places a high priority on both economic and social value with the aim of having a positive impact on the people they serve and our world. In a show of commitment, SK hynix has announced SV2030, a roadmap for maximizing social value in the four core areas of Environment, Shared Growth, Social Safety Net, and Corporate Culture over the next decade. In regards to Corporate Culture, SK hynix is moving towards diversity, inclusion, and equity (DI&E), increasing the recruitment and appointment of women and providing training for all employees.

Specifically, the semiconductor industry, which set records for mergers and acquisitions in 2020, can benefit greatly as focusing on corporate culture during a merger has shown to increase the probability of success from 30-40 percent to 60-70 percent.

Major tech companies are embracing DI&E to bolster their corporate culture and are turning to actionable approaches such as diverse talent recruitment and inclusivity training. SK hynix strongly supports diversity and inclusion and is evolving its own culture with the goal of helping employees grow professionally and personally. Corporations across the industry are also demonstrating their commitments by implementing initiatives and programs surrounding self-development, diversity, and female leadership.

SK hynix’s Happiness Design Group was introduced to support working parents. The initiative’s diverse participants work together to cultivate a more forward-thinking and compassionate culture in the workplace for busy parents and offer effective mentoring to foster leadership in female employees. Following its establishment, a remarkable 99% of parents now return to work following parental leave.

Additionally, the Junior Board provides a direct line for employees of all levels to voice their opinions with leadership team members, supporting SK hynix’s belief that every voice is inherently valuable.

Included in the efforts supporting the core area of Social Safety Net, SK hynix is committed to making employment accessible to all job seekers, helping create over 1,000 jobs for members of the disabled community.

Any progressive company that believes in continual growth will recognize the intrinsic importance of social value. That is why SK hynix has dedicated itself to SV2030 as a guide for its future.

A key driver for social value creation moving forward will be DI&E. It can transform corporate culture, enabling innovation through diverse voices and harmony through a unified goal of shared values for employees, customers, investors, and communities.

The post Culture for All: SK hynix Zeroes in on Inclusion first appeared on SK hynix Newsroom.

The Cultural Agenda for SK hynix: Creating Social Values in the Era of Culture Fusion

Peter Drucker, the founder of modern management, is attributed to have said “Culture eats strategy for breakfast.” While he may not have been the first to say it, the statement is more true today than ever before.
To understand how true that statement remains today, look no further than the semiconductor industry. Mergers and acquisitions in the sector set records in 2020. And while corporate strategies may have driven those deals, their successes would actually depend on the cultures that would form from the combined companies. Our research has consistently shown that paying attention to culture during a merger increases the probability of success from 30-40 percent to 60-70 percent.

SK hynix already has a history of integrated cultures from three of South Korea’s top four business groups – but only through inbound efforts. Now, those efforts need to go global, making it critical for SK hynix to meet its own Social Values 2030 campaign (green, advance together, social safety net, corporate culture) without failing to sustain its global market leadership in semiconductor memory. Its competitors are also spending a lot of resources to meet the growing social demand by appointing diversity executives and creating alliances for inclusion.

Just as semiconductor technology has advanced, so has understanding of social values – corporate culture, in particular.

Traditional social values focus on beliefs that shape behaviors inside a company. Often described as the “roots of the tree,” they reflect the values of the company that are upheld by all employees.

Increasingly, they need to reflect the “right” culture, or the identity of the firm in the mind of its best customers today and tomorrow. Identity is about brand and its values in the minds of customers. SK hynix brand identity “Technology Innovator for a Better World” and brand slogan “We DO Technology” provide a purpose that’s real to both customers AND employees. The “right” culture means making this customer-centric brand identity real to every employee every day.

For SK hynix, this means that the four social values resonate in the marketplace with customers, investors, and communities.

• Being “Green” helps protect the planet and makes SK hynix a contributing social citizen
• “Advancing together” implies co-existence with business partners
• Creating a “social safety net” means caring for physical, emotional, and social needs of not only employees but also the community and the vulnerable social groups
• Establishing “corporate culture” focuses on diversity, inclusion and equity means that SK hynix cares for employees’ development

These four social values do not just define how SK hynix operates but are also key drivers of the technology brand identity in the marketplace. When customers see these social values in practice, they prefer to do business with SK hynix. When investors recognize the commitment that SK hynix has to these social values, they increase confidence in future earnings and increase stock price. When communities recognize SK hynix citizenship actions, they build the reputation.

With this in mind, the “right” culture starts with the aspiration of the Purpose (making a better world with all members of the society by leading the tech-based IT ecosystem) and promise of the brand. The right culture becomes less about the roots of the tree and more about the leaves that grow and change over time.

Diversity, inclusion and equity have been ingrained in SK hynix’s social values and culture from creation and have become a driving force for what matters to customers, investors, and communities today and tomorrow.

Diversity requires divergence and respecting differences. Divergence means that the company is constantly open to new ideas and ways of working. Innovation occurs not only in products and services, but in encouraging different backgrounds. Divergence comes from open dialogue, seeking others’ opinions, and looking for new answers to old problems. Divergence means that every employee has something to offer the company and that opinions will be respected. Diverse organizations create a pipeline of innovation because employees share their best ideas and disagree without being disagreeable.

Inclusion requires convergence and unity. True diversity begins with unity. Unity, or convergence, means that every employee believes in the SK hynix purpose and works to make the marketplace brand into workplace actions. Unity about the social values means that employees are all moving in the same direction, with different skills. Diversity without this unity is random action; unity without divergence leads to groupthink and a lack of innovation. Inclusion also instills a sense of belonging where each employee feels a sense of personal connection to the firm. This sense of belonging comes when employees not only share the values but enjoy working together with each other and learn and grow from that work. Equity means that everyone has an opportunity to live up to their potential.

The DI&E culture is not just for employees inside the company, but also customers, investors, and partners. These external stakeholder groups are also comprised of people who want to be respected for their diversity and feel a sense of belonging through inclusion.

A positive DI&E culture begins with senior leaders who model how to manage the divergence/convergence ongoing process. These leaders use their power to empower others by seeking input and fresh ideas (divergence) and by focusing attention on the key priorities (convergence). Employees will often do what their leaders do, and when leaders empower others, employees will not only respect their leaders, but also follow them.

Ultimately, every employee at SK hynix is responsible to help create and embed the right (DI&E) culture so that it is not an abstract ideal, but an action-oriented daily practice. Here are some questions each employee can ask to help make the right culture real:

Image Download

Peter Drucker’s insight about culture being equal to or more important than strategy applies even more today. In a world where strategies, products, and technologies are changing faster than ever, the right culture must also adapt to deliver future success.

The post The Cultural Agenda for SK hynix: Creating Social Values in the Era of Culture Fusion first appeared on SK hynix Newsroom.