Solidigm Hires Trump-Tied Lobbying Firm

Headquarters of Solidigm. (Photo courtesy of Solidigm) Solidigm, the U.S. subsidiary of SK hynix, has hired a lobbying firm with deep ties to close associates of U.S. President Donald Trump. According to a U.S. congressional lobbying disclosure on Oct. 15 (local time), Solidigm announced on Oct. 14 that it had appointed the lobbying firm Ballard Partners as of Sept. 24. Ballard Partners is considered the most influential lobbying firm in Washington entering Trump’s second term. CEO Brian Ballard is a figure who formed a connection with President Trump during his time as a businessman by handling lobbying for the Trump Organization in Florida. White House Chief of Staff Susie Wiles and former Attorney General Pam Bondi also have experience working as lobbyists at this firm, making it tightly interwoven with key administration figures. According to Sludge, a U.S. lobbying analysis media outlet, Ballard Partners generated the highest revenue in the industry last year by leveraging such networks. The Solidigm account is being personally handled by CEO Ballard as the designated lobbyist. Micah Ketchel, who served as chief of staff to U.S. Ambassador to the United Nations Mike Waltz; Thomas Boodry, a former director for legislative affairs at the White House National Security Council (NSC) during Trump’s second term; and Amaryllis Fox Kennedy, who also served as deputy director of the DNI during Trump’s second term, have been registered as lobbyists. The lobbying area was reported as ‘Manufacturing (MAN).’ Specific pending issues listed include ‘U.S. memory semiconductor manufacturing policy’ and ‘compliance issues with foreign investment regulations.’ Solidigm is a U.S. corporation established by SK hynix in 2021 upon acquiring Intel’s NAND and solid-state drive (SSD) business division. It is known that the company is pursuing a plan to list on the U.S. stock market as early as next year. Market observers interpret this appointment of a lobbying firm as a strategic move to elevate its government relations capacity in Washington ahead of the listing. However, the controversy over Solidigm’s ‘dual listing’ remains. The semiconductor governance structure of SK Group extends from SK Inc. to SK Square, SK hynix, AI Company (a U.S. investment subsidiary), and finally to Solidigm. If Solidigm is listed within an already multi-layered structure, concerns over dual listing are bound to intensify further. While there are expectations that Solidigm could independently secure its corporate valuation to raise investment funds, it is pointed out that concerns over the dilution of existing shareholder value and the further complication of the governance structure are more significant.