SK hynix execs to fly to US for industry insight
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