The photo provided by SK Square shows an SK hynix Inc. employee holding up a wafer of semiconductor at a chip plant.
SEOUL, July 4 (Korea Bizwire) — SK Square, a non-telecom spinoff of SK Telecom Co., announced on Tuesday that it would form a partnership with SK hynix Inc., Shinhan Financial Group Co., and LIG Nex1 Co. to establish TGC Square, an investment corporation for foreign chipmakers.
The consortium aims to raise 100 billion won (US$76.8 million) to invest in base materials, parts, and equipment required for chip production.
To facilitate seamless investment deliberations, the corporation has established an advisory committee on semiconductors comprising chip experts from around the world.
TGC Square plans to leverage foreign investment hubs operated by SK Group’s ICT partners to identify promising foreign tech companies and explore potential joint investments.
The company intends to allocate 60 percent of the investment funds to material, part, and equipment manufacturers in Japan. Currently, officials are preparing to conduct a technical review of four potential companies.
Once the investment recipient is confirmed, TGC Square will focus on expanding company value through SK hynix’s network-based projects and technological cooperation, as well as through mergers and acquisitions and IPOs.
Additionally, the corporation will actively seek material, parts, and equipment manufacturers outside of Japan to strengthen the semiconductor value chain. It will also continue to make investments within South Korea.
Kevin Lee (kevinlee@koreabizwire.com)
