SK Hynix to acquire Key Foundry
To double 8-inch foundry capacity
SK Hynix said on Friday that it will be acquiring foundry company Key Foundry for 575.8 billion won.
The purchase will double its 8-inch foundry production capacity, the South Korean memory maker said.
It will acquire 100% of the shares of Key Foundry from their parent company Magnus Semiconductor through the deal.
Key Foundry is based in Cheongju, South Korea and manufactures a variety of logic chips such as power management ICs, display driver ICs, microcontroller units, with 8-inch wafers.
In May, SK Hynix vice chairman Park Jung-ho had said the company was planning to double its 8-inch foundry capacity.
SK Hynix said it will continue to strengthen its system semiconductor competence and support South Korean fabless companies.
SK Hynix runs its foundry service with subsidiary SK Hynix System IC.