Solidigm, the SK hynix (000660) subsidiary preparing for a U.S. listing, has hired its first executive to oversee government affairs. The company is strengthening its organization and leadership to deepen cooperation with the U.S. government as it pursues an initial public offering and expands local investment.
Solidigm recently created a vice president post for government affairs and appointed Andres Castrillon, formerly senior director of government affairs at Qualcomm, to the role, industry sources said on Oct. 12. It is the first time since Solidigm was launched in 2021 that the company has installed a government affairs chief and built its own team separate from parent SK hynix.
Castrillon has held senior positions across both government and industry in the United States, serving as automotive team leader at the International Trade Administration under the Commerce Department, director of government affairs at global automaker Stellantis and senior director of government affairs at Qualcomm. At Solidigm, he will draw on that experience to build a new government affairs organization and will be based in Washington, D.C., where he is to develop relationships with government and regulatory agencies.
Castrillon has also been given the job of leading Solidigm's response to reviews by the Committee on Foreign Investment in the United States. With Solidigm weighing construction of its first NAND flash memory plant in the United States, the appointment signals that the company may expand local investment in a variety of forms.
The hiring further strengthens a leadership team that Solidigm reinforced earlier this year when it named Jin Jung-hoon, a former SK hynix president regarded within SK Group (034730) as an expert on the United States, as co-chief executive. Castrillon reports directly to Jin on related matters, according to sources. Government affairs for Solidigm had until now been handled at the level of parent SK hynix, but the company's push to secure a NAND business base in the United States and to list its shares has created a need for its own capacity to understand and respond to local conditions.
Solidigm is pursuing an IPO as early as next year at a target valuation of up to $150 billion, or about 200 trillion won. The company is also reviewing sites and terms for a NAND fab in the eastern United States, sources said. A response has become necessary as well after the U.S. House of Representatives recently raised concerns about South Korean investment in China, citing Solidigm's plant in Dalian, among others.
At the group level, SK has also moved Vice Chairmen Yoo Jeong-joon, Lee Hyung-hee and Suh Jin-woo, who have led global external cooperation, to SK hynix. SK America, which serves as the group's control tower for government affairs in North America, recently retained Ballard Partners, a prominent lobbying firm in Washington, D.C.