SK hynix ex­ecs to fly to US for in­dus­try in­sight

The Korea Times - - BUSINESS - By Jun Ji-hye [email protected]­re­

Key ex­ec­u­tives of SK hynix will visit the United States later this month to learn about the lat­est trends in the semi­con­duc­tor in­dus­try and ex­plore new busi­ness op­por­tu­ni­ties there, in­dus­try of­fi­cials said Thurs­day.

About 20 se­nior ex­ec­u­tives will par­tic­i­pate in a train­ing pro­gram for about a week in the U.S., with SK hynix Vice Chair­man Park Sung­wook ex­pected to join in.

As part of the pro­gram, the ex­ec­u­tives will visit Stan­ford Univer­sity and meet renowned schol­ars to share views on ad­vanced tech­nolo­gies re­lated to mem­ory chips and elec­tronic de­vices for cars.

“They are also ex­pected to visit IT com­pa­nies in Sil­i­con Val­ley to ex­plore new busi­ness op­por­tu­ni­ties,” an in­dus­try of­fi­cial said.

Com­ment­ing on the planned visit, a SK hynix of­fi­cial said: “It is a train­ing pro­gram that takes place reg­u­larly for ex­ec­u­tives. Whether Vice Chair­man Park will join the pro­gram has yet to be de­cided.”

In June, the world’s sec­ond-largest mem­ory chip maker in­vested more than 3.5 bil­lion won ($2.9 mil­lion) to ac­quire a 5.42 per­cent stake in Lion Semi­con­duc­tor, a “fa­b­less” man­u­fac­turer set up in Sil­i­con Val­ley in 2013.

Lion Semi­con­duc­tor spe­cial­izes in sin­gle-chip power man­age­ment in­te­grated cir­cuits (PMICs).

SK hynix’ in­vest­ment was con­strued as the firm’s ef­forts to se­cure com­pet­i­tive power in the non-mem­ory semi­con­duc­tor busi­ness to re­duce its re­liance on the mem­ory chip busi­ness amid slug­gish de­mand.

Mean­while, SK hynix’s op­er­at­ing profit for the July-September pe­riod is pro­jected to be higher than mar­ket ex­pec­ta­tions but drop sharply from a year ear­lier amid the con­tin­u­ing down­turn in the global mem­ory chip mar­ket.

KTB In­vest­ment & Se­cu­ri­ties an­a­lyst Kim Yang-jae said SK hynix’s op­er­at­ing profit for the third quar­ter is ex­pected to be 498.3 bil­lion won, which is above the mar­ket con­sen­sus of about 389 bil­lion won.

But the fig­ure is down 92.3 per­cent from a year ear­lier, when the com­pany posted an op­er­at­ing profit of 6.47 tril­lion won.

Hana Fi­nan­cial In­vest­ment an­a­lyst Kim Kyung-min fore­cast SK hynix to post an op­er­at­ing profit of 584.1 bil­lion won for the third quar­ter, rais­ing the fig­ure from his ear­lier es­ti­ma­tion of 555.5 bil­lion won.

SK hynix Vice Chair­man Park Sung-wook

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