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SK hynix seeks global leadership in cooperation with ICT powerhouses: chief

All News 15:56 January 04, 2021

SEOUL, Jan. 4 (Yonhap) -- SK hynix Inc. needs to actively seek cooperation with world ICT powerhouses to become a leading tech firm, its top executive said Monday, hinting that South Korea's No. 2 chipmaker can forge more partnership deals this year.

SK hynix Vice Chairman Park Jung-ho said the company requires "global tech leadership" and that it needs to join hands with ICT leaders.

"The trend of digital transformation is accelerating due to COVID-19, but behind the scenes, there are difficulties regarding technologies and mass-scale investments," Park said in his message for the new year to employees. "We must utilize outside resources and ideas, and seek innovative collaboration works that can even join hands with our competitors."

This file photo taken Oct. 20, 2020, shows the corporate logo of South Korean chipmaker SK hynix Inc. at its plant in Icheon, 80 kilometers south of Seoul. (Yonhap)

Park, who also serves as CEO of South Korea's top mobile service operator, SK Telecom Co., said SK hynix's acquisition of Intel Corp.'s NAND business is also in line with its goal of achieving global tech leadership.

In October 2020, SK hynix signed a deal to acquire Intel's non-volatile memory unit for US$9 billion, which includes the U.S. firm's solid state drive (SSD) business and a NAND flash chip plant in Dalian, China.

"The acquisition of Intel's NAND business was the ground work for us to create close cooperative relationships with global ICT players, not just expanding our market share," he said.

SK hynix CEO Lee Seok-hee said 2021 will be the year that completes the "evolution" of the company as both of its DRAM and NAND flash businesses will thrive.

"Once we complete the acquisition deal by the end of this year, we will have a new status in the NAND market," Lee said. "In the DRAM sector, we will solidify our technology prowess with the confidence that we can lead the market as the first mover, not as a fast follower."


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