Seoul, August 18, 2004
hynix Semiconductor Inc. (‘hynix’ or ‘the Company’) today announced it has contracted with Wuxi City, Jiangsu Province in China for setting up a plant in China. By completing the contract,
hynix explained it is able to obtain solid footing for the long-term competitiveness since the plant is expected to help in expanding manufacturing facilities for 12-inch wafers through the alliance with STMicro, enforcing cost competitiveness by utilizing low cost manufacturing environment, maintaining leading position in the Chinese market and resolving trade issues including countervailing duties.
In addition, hynix, which reported record profit for its second quarter and posted fourth straight quarterly profit, added it aims to be a leading memory chip manufacturer as the Company secured stable financial base for the business normalization.
hynix plans to complete construction of the China chip plant by the second half of 2005 and expects to start mass production in 2006.
