SK hynix to acquire chip contract maker Key Foundry

SK hynix Inc. agreed to acquire chip contract manufacturer Key Foundry Co. Ltd. for 575.8 billion South Korean won (US$493 million), an SK hynix spokesperson confirmed to S&P Global Market Intelligence on Oct. 29.

The deal is expected to help double SK hynix's eight-inch foundry capacity, according to the spokesperson. In an Oct. 29 statement, SK hynix said it plans to complete the acquisition once it receives all the regulatory approvals from major countries.

The South Korean memory semiconductor manufacturer had been in discussions to buy Key Foundry, in which it owned a minority holding, since the first half of 2021, Reuters reported Oct. 28, citing South Korean media.

As of Oct. 28, US$1 was equivalent to 1,168.01 South Korean won.