Icheon City: "There Will Be No Departure of SK Hynix"

"Continuing Location in Icheon"... Dismissing Concerns Over Headquarters Relocation
"Ongoing Projects to Alleviate Employee Inconvenience Also Proceeding"

Gyeonggi-do Icheon City has dismissed the possibility of SK Hynix relocating its headquarters, which had been raised by some.

At the French Musical Gala Concert held last May in Icheon City, which invited SK Hynix executives and employees, attendees including Kim Kyung-hee, Mayor of Icheon (6th from the left), pledged mutual cooperation. [Photo by Icheon City]

On the 21st, Icheon City announced that it confirmed there are no plans for SK Hynix to move its headquarters through a recent meeting with SK Hynix executives. The city explained, "SK Hynix will continue to maintain a win-win cooperation with the city for the development of the semiconductor industry."

The city’s statement appears to be aimed at dispelling concerns about SK Hynix’s relocation raised by some after Icheon City was excluded from the government's selection for the Advanced National Industrial Specialized Complex last month.

The city explained that SK Hynix produces the entire process of the advanced technology HBM3 at its Icheon campus and has five of its six research institutes located there, so research and development (R&D) investment in Icheon will continue. HBM is a high value-added, high-performance product that vertically connects multiple DRAMs to dramatically increase data processing speed compared to conventional DRAM. SK Hynix recently developed and provided customers with prototypes of the 4th generation HBM3 as well as the expanded version, the 5th generation HBM3E.

The city plans to continue promoting projects to foster the semiconductor industry centered on SK Hynix. Earlier, in March, the city signed a business agreement with SK Hynix to establish and operate the Icheon City Library Happy IT Study Lab, and in April, another agreement was made to promote the establishment of a contract department at Icheon Jeil High School for semiconductor talent cultivation.

Additionally, the city is pushing for underground wiring of power lines along City Road No. 1 in front of SK Hynix’s main gate and is implementing various projects such as installing public parking lots to alleviate inconveniences for employees, the city added.

An official from Icheon City said, “Icheon City and SK Hynix have a partnership role beyond that of a company and local government, and we will actively cooperate to overcome the semiconductor downturn together.”

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