SK Hynix to spin off foundry business as SK Hynix System IC

SK Hynix Inc. announced the spinoff of its foundry business into a new wholly owned subsidiary, SK Hynix System IC, which will start operations on June 30, 2017 in Cheongju, South Korea, with an initial capital of 343.3 billion won ($306 million) and about 1,300 employees.

“We decided to split the foundry business to reinforce our competitiveness as a system integrated circuit (IC) powerhouse and achieve sustainable growth.”pulse.mk.co.kr

• 2 sources
• pulse.mk.co.krSK Hynix to complete spinoff of foundry business SK Hynix System IC by next month - 매일경제 영문뉴스 펄스(Pulse)May 25, 2017
• pulse.mk.co.krSK Hynix to complete spinoff of foundry business SK Hynix System IC by next month - 매일경제 영문뉴스 펄스(Pulse)May 25, 2017

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