SK Hynix Signs MOU with Dalian City, China for New Investments and Intel Relocation Collaboration

No Jong-won, Vice President of Management Support at SK Hynix [Photo by SK Hynix]

[Asia Economy Reporter Kim Heung-soon] SK Hynix announced on the 29th that it has signed a Memorandum of Understanding (MOU) to establish a cooperative relationship with Dalian City, China. SK Hynix announced in October last year that it would acquire Intel's NAND business, and Intel's NAND production fab is located in Dalian.

Both parties agreed to jointly promote new investments in the Dalian region following SK Hynix's acquisition of Intel's NAND business. Additionally, Dalian City will support the necessary procedures to ensure the smooth transfer of Intel's NAND production fab to SK Hynix. Furthermore, SK Hynix's business agreement includes strengthening cooperation with Chinese IT companies and assisting Dalian City's industrial innovation.

The signing ceremony, held via video conference in the afternoon, was attended by Jin Guowei, Vice Mayor of Dalian City, and Noh Jong-won, Vice President (CFO) in charge of management support at SK Hynix, among others.

Vice President Noh said, "Since SK Hynix first entered Wuxi, China in 2004, we have strived to grow together with the local community, and as a result, we have established ourselves as a foreign company well-rooted locally. With the acquisition of Intel's NAND business, we will also closely cooperate in Dalian, which will become a new foundation."

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