SK Hynix Strengthens Win-Win Management with Partners

SK Hynix Cheongju Plant

[Asia Economy Reporter Dongwoo Lee] SK Hynix is strengthening support programs for win-win management with its partners.

According to the industry on the 2nd, SK Hynix is expanding patent education and consulting in its 'Technology Innovation Company Support Program.' SK Hynix's Technology Innovation Company Program has been supporting companies with high technological potential to achieve stable growth since 2017.

As the companies selected so far have achieved excellent results, the 4th batch of companies is being recruited this year. The three companies selected in the 1st batch generated a total sales of 225.8 billion KRW over three years. The company supports selected companies with ▲ product evaluation ▲ technology funding support ▲ securing purchase volume ▲ consulting, among others.

The company plans to discover and nurture promising small and medium-sized enterprises in the materials, parts, and equipment sectors to build a semiconductor industry ecosystem in the mid to long term. Even companies whose two-year support period has ended will be given follow-up projects to maintain cooperative relationships.

SK Hynix also plans to proceed with the 'Youth Hope Sharing Project,' which connects young people and talented individuals to partner companies, as scheduled this year. This year, it will be implemented as 'Youth High Five,' improved to better suit partner companies.

Youth High Five is held twice a year, divided into the first and second half. Applications for the first half will be accepted through SK Hynix's site 'DBL Square' until the 19th of this month. Applicants select their preferred partner company and are selected as interns through interviews.

Interns receive customized training for four weeks according to the duties they will undertake at the partner company. Training includes job-common education teaching basic problem-solving skills and job-specialized education providing semiconductor industry expertise. After completing the job training, they participate in the partner company's internship program for three months. Upon completing the internship, they have the opportunity to be converted to full-time positions.

To help partners facing difficulties due to the COVID-19 pandemic, the company has expanded payment frequency for small and medium-sized partners, whose monthly delivery payments reach 600 billion KRW, from three times a month to four times a month since last month. The payment cycle has been shortened from 10 days to 7 days to assist partners' cash flow.

Additionally, SK Hynix prioritizes support for partners affected by COVID-19 using 130 billion KRW available in the partner win-win fund it operates. Of this, 50 billion KRW will be used for 2nd and 3rd tier partners.

This content was produced with the assistance of AI translation services.