SK Group backs US$140 million fund to bring South Korean chip firms to China

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SK Group backs US$140 million fund to bring South Korean chip firms to China - SCMP

Quick Summary:

The fund, supported by the government of Wuxi, is designed to help leading South Korean chip companies set up local operations.

China is aggressively seeking more partners to help it achieve self-sufficiency in critical fields including semiconductors to overcome growing US restrictions on the Asian nation’s access to advanced technologies.

Meanwhile, SK Hynix relies on China as a major market and a key manufacturing hub for its memory chips, operating plants in Wuxi, Chongqing and Dalian.