Press Release

hynix Semiconductor spins off handset and ADSL operations

By April 7, 2001 December 7th, 2020 No Comments
– hynix announced yesterday that it had spun off its handset and Asymmetric Digital Subscriber Line(ADSL) operations.

Seoul, Korea, April 7, 2001

hynix Semiconductor Inc. (hynix, announced yesterday that it had spun off its handset and Asymmetric Digital Subscriber Line(ADSL) operations. hynix will create two new separate corporations for each business and transfer its sales rights to the respective new corporations. Following an assessment of each operation, their related assets and liabilities will be transferred to the new companies at book value by the end of April. The transfer amount is 191.4 billion won for the handset operation and 39.2 billion won for ADSL. The new companies were established on April 6 and the sales-rights-transfer agreements will be signed on April 9 and implemented on April 30. hynix expects these spin-offs will allow the company to focus on its semiconductor business, foster handset and ADSL operations as competitive leaders in the telecommunications industry, and encourage substantial foreign investment. hynix will hold a 100 percent stake in each of the new companies with a paid in capital of 50 million won each. The handset operation reported 712.8 billion won in sales and ADSL last year reported sales of 158.5 billion won. About hynix Semiconductor Inc. hynix Semiconductor Inc.(hynix) of Ichon, Korea, is an industry leader in the development, sales, marketing and distribution of high-quality semiconductors (including DRAM, SRAM, Flash memory and system IC devices), telecommunications and liquid crystal displays. The Semiconductor Group of hynix is the world’s largest DRAM supplier with 11 semiconductor manufacturing facilities worldwide, and production capacity of over 300,000 wafer starts per month. In addition, hynix is expanding its system IC business unit with leading technology and added deep-submicron foundry services to strategically broaden its overall semiconductor presence and achieve its goal of leading the global semiconductor market. Based in Korea, hynix maintains development, manufacturing, sales and marketing facilities strategically located worldwide. More information on hynix Semiconductor Inc. and its products is available from the company’s web site at ### “These materials are not an offer for sale of the Securities in the United States. The Securities may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. hynix Semiconductor Inc. does not intend to register any portion of the offering in the United States or to conduct a public offering of Securities in the United States.”