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Photo: SK hynix |
[Alpha Biz= Kim Jisun] SK hynix System IC, the foundry subsidiary of SK hynix, has begun a company-wide restructuring process, citing delays in the recovery of the legacy (general-purpose) semiconductor market.
According to industry sources on Sunday, the China-based subsidiary recently accepted voluntary retirement applications from both its production staff in China and office employees in South Korea.
The terms of the voluntary retirement offer reportedly include one year's base salary, severance pay of 25 million KRW, and support for children's education expenses.
SK hynix System IC specializes in 8-inch foundry operations, producing legacy products such as power management ICs (PMICs) and display driver chips. These product lines have been significantly impacted by the ongoing downturn in the semiconductor market.
Industry experts attribute the restructuring to a combination of prolonged market stagnation and aggressive price competition from Chinese manufacturers, which have worsened the company's financial performance.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
