SK hynix is partnering with the government, the Korea Trade Insurance Corporation, and financial institutions to support the growth of domestic semiconductor ecosystem companies, particularly in materials, parts, and equipment (known as 'soobu-jang').
On October 19, at the SK hynix Yongin Cluster Promotion Center in Yongin, CEO Kwak Noh-jung, Minister of Trade, Industry and Energy Kim Jeong-kwan, representatives from the Korea Trade Insurance Corporation, and officials from major banks including KB Kookmin, Shinhan, Woori, and Hana attended the signing ceremony for the 'Export Supply Chain Strengthened Guarantee' program and the presentation of the first guarantee certificate.
The newly launched 'Export Supply Chain Strengthened Guarantee' is a large-scale joint financial program designed to alleviate funding difficulties faced by small and medium-sized semiconductor companies struggling with high interest rates and a slowing global economy. SK hynix and the major banks are contributing funds, while the Korea Trade Insurance Corporation provides guarantees, creating a support environment totaling 2 trillion won (approximately $1.5 billion).
Through this initiative, partner companies will benefit from increased loan limits and preferential interest rates, as well as significant reductions in guarantee fees incurred during the loan process. The event also included the presentation of the first guarantee certificate to companies receiving these support benefits.
Before the signing ceremony, attendees toured the construction site of the first fab at the SK hynix Yongin semiconductor cluster and the ongoing Trinity Fab project. The Trinity Fab is an advanced semiconductor production facility being developed with a total investment of 870 billion won (approximately $650 million) from the government, local authorities, and SK hynix.
Domestic small and medium-sized soobu-jang companies have faced challenges in commercializing their newly developed technologies and products due to difficulties in testing them in actual semiconductor production environments. The Trinity Fab will provide an environment to test and validate whether these technologies and products can be used in production without issues. It will play a crucial role in significantly enhancing the technological independence of soobu-jang companies and drastically shortening the time to localize advanced technologies and products.
Kwak Noh-jung, CEO of SK hynix, stated, "To secure the global competitiveness of South Korea's semiconductor industry and further strengthen the status of 'K-Semiconductor,' a robust soobu-jang ecosystem is essential. Based on this export supply chain fund support and the establishment of a one-stop technology verification environment through the Trinity Fab, we will work together with our partners to solidify our technological leadership in the global semiconductor market."
* This article has been translated by AI.
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