SK Hynix gets South Korea based chip contract for US$492 million: Report

SK Hynix, the world’s second-largest memory chip maker, will acquire South Korean Key Foundry for 576 billion won ($492 million).

Reuters reported that SK Hynix said in a statement that this 8-inch foundry manufacturer mainly produces chips for power management, display drivers, and microcontroller unit semiconductors (MCU).

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SK Hynix said that SK Hynix expects that the acquisition will double its current 8-inch foundry capacity. The company already owns System IC, a chip foundry company.

Moreover,  SK Hynix decided to acquire Key Foundry after considering several options for expanding its foundry production capacity.

According to previous reports, SK Hynix has been negotiating the acquisition of Key Foundry since the first half of this year. Public information shows that Key Foundry was established in September 2020 and was turned off by MagnaChip Semiconductor’s foundry department.