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Entrance of SK Hynix Cheongju 3rd Factory. (Photo = SK Hynix) |
[Alpha Biz= Reporter Kim Jisun] According to industry sources on the 8th, SK Hynix's wholly-owned subsidiary, SK Hynix System IC, recently signed a contract to gradually transfer a 49.9% stake in SK Hynix's foundry subsidiary, SK Hynix Foundry Wuxi Corporation, to WIDG.
Initially, by the end of October, SK Hynix System IC will sell a 21.3% stake in Wuxi Corporation to WIDG for approximately $149.3 million (about 202 billion won). Subsequently, WIDG is expected to participate in a third-party allocation capital increase of $200 million (about 272 billion won) conducted by Wuxi Corporation, securing an additional 28.6% stake.
Previously, in July 2018, SK Hynix had relocated equipment to Cheongju to strengthen its foundry business and has been collaborating with WIDG through various ventures, including the establishment of a joint venture (JV).
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
