The chief of South Korean conglomerate SK Group on Wednesday departed for Japan, fanning speculation that the consortium that includes its affiliate SK hynix Inc. is in the process of finalizing a deal to take over Toshiba Corp.'s memory business, a company official said.

Earlier this month, Japanese Toshiba's board of directors decided to sell its chipmaking unit to the consortium, which also includes Bain Capital and the Development Bank of Japan, as well as Apple Inc. and Dell Inc.

Toshiba has been seeking to sell its stake in its memory operations as it struggles with losses from its nuclear power business in the United States.
 
"Chairman Chey Tae-won departed at 1:00 p.m. for Japan," the official said without providing more details.

Industry watchers said the trip is apparently related to the consortium's deal with Toshiba. The visit is also significant as SK hynix held its board of directors' meeting earlier in the day.

"As Chey's trip followed SK hynix's board meeting, it may indicate that (the acquisition process) is speeding up," the official said. "But we cannot confirm the exact purpose behind the trip." (Yonhap)