SK Hynix Semiconductor (China) Removed from Abnormal Business List

TapTechNews July 15th news, The STAR Market Daily quoted sources as saying that SK Hynix Semiconductor (China) Co., Ltd. has beenremoved from the list of abnormal business operations by the local market regulatory authority on July 15th.

It is reported that SK Hynix was included in the list of abnormal business operations on July 5th this year. After verification, the company has fulfilled its relevant obligations. After submitting a credit repair application on July 15th, the Market Regulatory Bureau of Wuxi National High-tech Industrial Development Zone removed it from the list of abnormal business operations on the same day.

TapTechNews found out that SK Hynix Semiconductor (China) Co., Ltd. was established in Wuxi, Jiangsu in April 2005 with investment, and it is the largest overseas production base of South Korea's SK Hynix Corporation. The company mainly produces DRAM, and the product application range involves servers, smartphones, computers, consumer electronics and other fields.

In May this year, it was reported that SK Hynix's subsidiary, SK Hynix System IC, plans to transfer the 49.9% equity it holds in SK Hynix System IC (Wuxi) Co., Ltd. to Wuxi Industrial Development Group Co., Ltd.

SK Hynix System IC became independent from its parent company in 2018 and mainly engages in the mature process foundry business of 8-inch wafers, and the products cover categories such as automotive PMIC and TV DDI. The Korean media Hankyung believes that this move by SK Hynix System IC is to strengthen the connection between the Wuxi wafer fab and the Chinese market and expand its business in China.