SEOUL, Jul. 18 (Korea Bizwire) — SK hynix Inc. said Wednesday it will join forces with three of its subcontractors to carry out joint research and development projects as part of its efforts to seek shared growth.
The chipmaker said it will provide “comprehensive technological support” to MiCo Ltd., UBmaterials Inc. and TEMC for the next two years.
Under the project, SK hynix said it will allow the three South Korean companies to test run their new solutions on its production lines. The chipmaker said it will also offer interest-free loans to help them conduct research and guarantee minimum purchases of their new achievements.
With the project marking the second of its kind, SK hynix said the first companies to receive support last year were successful.
SK hynix said it purchased production equipment from Adaptive Plasma Technology Corporation and AUROS Technology in the first half of 2018. Without citing a specific amount, the chipmaker said such deals will effectively replace “tens of billions of won” in terms of imports.
SK hynix currently operates a 420 billion won (US$372 million) fund aimed at supporting partners in terms of technology, finance and management, seeking shared growth with subcontractors.
The move came as South Korea has been trying to level the playing field for small and medium-sized companies in a country where family-controlled conglomerates known as chaebol have dominated the economy for decades.