SK Hynix Completes Acquisition Process of Kipa Foundry

[Asia Economy Reporter Park Sun-mi] SK Hynix announced on the 2nd that it has completed the acquisition process of K-Foundry, an 8-inch foundry (semiconductor contract manufacturing) company.

The new CEO of K-Foundry is expected to be CEO Lee Dong-jae.

SK Hynix signed a contract last October to purchase 100% of K-Foundry's shares from Magnus Semiconductor LLC for 575.8 billion KRW and has been proceeding with the acquisition process. During the first half of this year, the company also received approval for the corporate merger review in Korea and China.

K-Foundry produces non-memory semiconductors such as power semiconductors, display driver ICs, and microcontroller units (MCUs) on an 8-inch wafer basis, with sales of 616 billion KRW in 2021.

An SK Hynix official stated, “We will contribute to stabilizing the global semiconductor supply and developing the domestic system semiconductor ecosystem by utilizing the capabilities of SK Hynix System IC, an 8-inch foundry subsidiary, and K-Foundry.”