SEOUL, May 24 (Reuters) - South Korea’s SK Hynix Inc said on Wednesday it has decided to spin off its chip foundry business into a separate company.
SK Hynix, the world’s No.2 memory chip maker behind Samsung Electronics Co Ltd, said the move will help the business - which makes non-memory products on behalf of clients without their own chip manufacturing facilities - strengthen its long-term competitiveness. It gave no further details.
The firm first said in April it was considering such a move. (Reporting by Se Young Lee)