Seoul, Korea, July 26, 2000 — Hyundai Electronics Industries Co., Ltd. and LG Electronics (LGE) recently finalized an agreement for strategic cooperation in the joint development and long-term supply of semiconductors targeted for use in the digital media field. According to the terms of the contract, LGE will purchase key semiconductor products from Hyundai, thereby helping to stabilize the demand/supply balance for products used in the digital media field. This agreement provides LGE with a stable supply of the types of semiconductor components that it had formerly purchased from LG Semicon, prior to LG Semicon￠®¯s merger with Hyundai last year. In addition, the agreement furthers Hyundai￠®¯s goal of increasing its product diversification by establishing strategic relationships with large customers in the non-memory sector of the semiconductor industry. LGE will give Hyundai products priority consideration for use in any related new models and new product development projects. Leveraging Hyundai￠®¯s semiconductor technology and LGE￠®¯s system technology, the two companies will also undertake joint planning and development projects, particularly in the area of next-generation products such as Systems ICs.
– Hyundai Electronics and LG Electronics (LGE) recently finalized an agreement for strategic cooperation in the joint development and long-term supply of semiconductors targeted for use in the digital media field
