SK Hynix Secures US$3 Bil. Loans from Korean Banks

SK Hynix has secured US$3 billion in loans from Korean banks to finance its future investments.

The Overseas M&A Investment Support Council consisting of Korea Development Bank, the Export-Import Bank of Korea, and NH Nonghyup Bank, has decided to give US$3 billion in loans to SK Hynix for the chipmaker’s global investment by 2025.

The Financial Services Commission (FSC) announced on Jan. 19 that a ceremony was held at SK Hynix’s plant in Icheon, Gyeonggi Province, to mark the signing of the Industry-Finance Cooperation Program for the Promotion of the Semiconductor Industry.

The program was arranged to help SK Hynix secure funds to finance its future global investments and establish a fund for investment in semiconductor materials, parts and equipment companies.

The financial institutions and SK Hynix will launch a 100 billion won fund this year to invest in semiconductor SMEs and foster a semiconductor industry ecosystem. SK Hynix will contribute 30 billion won to the fund and Korea Development Bank and the Export-Import Bank of Korea 10 billion won each. The remainder will come from the central government.