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SK Group Chairman Chey Tae-won will chair the board of HYAICO, the U.S.-based artificial intelligence investment arm of SK hynix, according to documents filed with the U.S. Securities and Exchange Commission (SEC). Yonhap reports the appointment, and SK hynix named Song Hyun-jong, its president, as CEO of HYAICO in the filing. The move comes as SK hynix faces a dilemma over U.S. export controls on advanced semiconductor equipment for its NAND flash plant in China, with Washington's reluctance to approve equipment shipments slowing the chipmaker's plans for new memory-chip plants in New York, according to sources cited by the Korea Times.