Park, the company's first engineer-turned-chief, will replace Kwon Oh-chul whose term has expired, SK hynix said in a regulatory filing. The decision was approved at a board meeting earlier in the day.
Park began his career at Hyundai Electronics, the former name of SK hynix, in 1984 and has served as the company's chief technology officer and R&D chief.
SK hynix said it plans to accelerate technology-focused growth on the back of its bolstered financial stability, adding Park's leadership will help the company tide over uncertainties in the chip industry.
Kwon will remain as an adviser to help boost growth, according to SK hynix.