SK hynix Launches KRW 2 Trillion Export Supply Chain Guarantee Program With Government, Korea Trade Insurance Corp., and Commercial Banks
TECHWORLD ·
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SK hynix will hold a signing ceremony for the "Export Supply Chain Guarantee" with the government, Korea Trade Insurance Corp., and commercial banks on the 19th.
The program is aimed at easing funding difficulties for small and mid-sized semiconductor materials, parts and equipment companies, and the support amounts to a total of KRW 2 trillion.
SK hynix and commercial banks will contribute the funds, while Korea Trade Insurance Corp. will provide the guarantees.
SK hynix has established a system to support materials, parts, and equipment companies in South Korea's semiconductor ecosystem in cooperation with the government, Korea Trade Insurance Corp., and commercial banks. The goal of the support is the mutual growth of materials, parts, and equipment companies.
SK hynix said it will hold a ceremony for the signing of the "Export Supply Chain Guarantee" agreement and the delivery of the first guarantee certificate on the 19th. Attendees will include CEO Kwak Noh-jung, Minister of Trade, Industry and Energy Kim Jung-kwan, officials from Korea Trade Insurance Corp., officials from the four major commercial banks, KB Kookmin, Shinhan, Woori and Hana, as well as key representatives from materials, parts and equipment partner companies.
The newly launched "Export Supply Chain Guarantee" is a large-scale joint financial program. It was introduced to ease funding difficulties faced by small and mid-sized semiconductor materials, parts and equipment companies that are struggling to raise funds amid high interest rates and a global economic slowdown.
SK hynix and commercial banks will contribute the funds, and Korea Trade Insurance Corp. will provide the guarantees. The support amounts to a total of KRW 2 trillion.
The company said it will expand loan limits for materials, parts and equipment companies, offer preferential interest rates, and significantly reduce the burden of guarantee fees in the lending process.
Meanwhile, it was raised on the ground that domestic small and medium-sized materials, parts and equipment companies are facing major difficulties in commercialization because they find it hard to test their self-developed new technologies and products in actual semiconductor production environments. Trinity Fab was described as a facility that pretests whether technologies and products can be used in actual production, provides a verification environment for technologies and products, greatly enhances the technological self-reliance of materials, parts and equipment companies, and serves as a key hub that dramatically shortens the time needed to localize advanced technologies and products.
At the subsequent meeting, representatives of partner companies delivered on-site suggestions related to stabilizing the semiconductor supply chain and achieving technological self-reliance, and attendees agreed to strengthen a mutually beneficial ecosystem between large and small companies to maintain K-semiconductor's global technological edge.
Kwak Noh-jung, CEO of SK hynix, said that building a strong materials, parts and equipment ecosystem must be a prerequisite for securing the global competitiveness of South Korea's semiconductor industry and strengthening the status of "K-semiconductor." He added that, with support from the export supply chain fund, the company will create a one-stop technology verification environment through Trinity Fab and, based on that, pursue joint responses with partner companies to further strengthen technological leadership in the global semiconductor market.
Source: TECHWORLD · Lee Gwang-jae
Original: https://www.epnc.co.kr/news/articleView.html?idxno=408395
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Source: TECHWORLD
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