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After the wildfires — lessons on being prepared | SaltWire #wildfire #novascotia #thinkingoutoudSEOUL - South Korea's SK Hynix has agreed to sell its nearly 50% stake in its foundry unit based in China to a Chinese state-owned enterprise, according to regulatory filings and media reports.
In both filings, SK Hynix said they are pursuing such sales to its improve business structure and seek mid-to-long-term growth opportunities. "We agreed in July 2018 with the Wuxi Industrial Development Group Company that we will proceed with this move when we establish a joint venture to facilitate the construction of a fab," SK Hynix said in a statement.The chip contract manufacturing unit in Wuxi was established in 2018.
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