November 01, 2021
On October 29, SK Hynix announced that it would acquire Key Foundry, a South Korean-based foundry company, for 576 billion won ($493 million).
According to industry data, Key Foundry is an 8-inch wafer foundry manufacturer in South Korea. It was separated from MagnaChip Semiconductor in September last year. It has a monthly capacity of 82,000 8-inch wafers, which can be produced for consumption, communications, computers, and automobiles. Chips for industrial applications.
As a world-renowned memory manufacturer, SK Hynix is also launching an impact on the foundry field in recent years. In 2017, SK Hynix officially split its foundry business into an independent business unit. At present, its subsidiary SK hynix System IC is in charge of its foundry business.
Reuters reported that SK Hynix has been negotiating the acquisition of Key Foundry since the first half of this year. SK Hynix said it expects that the acquisition will double its current 8-inch foundry production capacity.
Earlier, the latest financial report released by SK Hynix showed that in the third quarter of fiscal 2021, consolidated revenue was 11.805 trillion won, operating profit was 4.172 trillion won, and net profit was 3.315 trillion won. The operating profit margin for the third quarter of fiscal 2021 was 35% and the net profit margin was 28%.
SK hynix has recorded the highest quarterly revenue in history since its establishment, and it is the first time since the fourth quarter of 2018 to achieve an operating profit of more than 4 trillion won. Increasing demand for storage for servers and mobile applications and rising product prices are the main reasons for the quarterly revenue to break the highest record in history.