Jeju Bando Semiconductor Decides to Terminate Joint Development Contract Including Memory Design
[Asia Economy Reporter Lee Jung-yoon] Jeju Semiconductor announced on the 1st that it has terminated the joint development contract for service provision including memory design.
The termination amount is 2,413.4 million KRW, which corresponds to 4.19% based on the consolidated financial statements of the fiscal year immediately preceding the initial contract in 2015. The contracting party is UNITED MICROELECTRONICS CORPORATION.
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The company explained the reason for termination as "mutual agreement to terminate due to the contracting party UMC's inability to fulfill the contract."
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