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SK SK Hynix plans to set up a joint venture factory in China and focus on chip foundry
In the evening of December 20th, Beijing time, South Korean media reported that SK Hynix, South Korea’s second-largest semiconductor manufacturer, is considering setting up a joint venture factory in China to expand its foundry operations. This move comes as the company looks to strengthen its position in the global chip market.
According to sources familiar with the matter, SK Hynix's board is expected to review the proposal for the joint venture in the coming weeks. The new facility would primarily focus on manufacturing chips for other companies that do not have their own semiconductor production capabilities. This could help SK Hynix diversify its revenue streams and tap into the growing demand from non-integrated device manufacturers (IDMs).
The joint venture will be led by SystemIC, a newly established subsidiary of SK Hynix that was launched in July this year. According to reports, SystemIC will hold a 50% stake in the Chinese venture. Analysts suggest that this partnership could significantly boost SK Hynix's presence in the system-on-chip (SoC) market, where it has been increasingly competing with industry giants like TSMC and Samsung.
It's worth noting that the Chinese Ministry of Commerce is currently reviewing the sale of Toshiba’s chip business to a Bain Capital-led consortium. Officials are particularly concerned about SK Hynix's potential role in the transaction. In September, the consortium signed a $18 billion deal to acquire Toshiba’s semiconductor unit, with SK Hynix providing convertible debt financing. As part of the agreement, SK Hynix could gain up to 15% voting rights in the newly formed entity.
Chinese antitrust regulators are cautious about the potential impact of the deal on market competition. They are worried that without conditions, SK Hynix could end up with a dominant position in the chip sector, which might limit fair competition and innovation. The outcome of the review could influence not only the future of the Toshiba acquisition but also SK Hynix's strategic moves in Asia.