SK hynix to spin off foundry biz

By a2017001

Published : May 24, 2017 - 18:01

South Korea's No. 2 chipmaker SK hynix Inc. said Wednesday it plans to spin off its foundry business in order to beef up its competitiveness in this sector.

The announcement was made through a regulatory filing under request from the main bourse operator Korea Exchange last month.

(Yonhap)

SK hynix said it has decided to hand over the business to its subsidiary.

The deal will be completed on June 30 with the price estimated to be 171.6 billion won ($152 million). (Yonhap)