In a strategic move to bolster its semiconductor manufacturing capabilities, SK Hynix has acquired Vietnamese semiconductor firm ISCVina for $300 million. This acquisition marks a significant step for SK Hynix as it expands its global footprint and strengthens its position in the semiconductor industry.
ISCVina, based in the northern province of Vinh Phuc, specializes in semiconductor manufacturing and trading. The company operates in Ba Thien 2 Industrial Park and serves as a supplier for several high-tech corporations. By acquiring ISCVina, SK Hynix aims to enhance its production capabilities and tap into the growing demand for semiconductors in the region.
The acquisition was announced at a meeting between SK Group Vietnam manager Hang Sung Won and Vinh Phuc People’s Committee Chairman Tran Duy Dong. Won praised the investment climate in Vinh Phuc, highlighting the supportive policies for businesses. However, he also pointed out challenges in scaling up investment and recruiting high-quality workers. SK Group has called on local authorities to assist in addressing these challenges and to create new advantages for further investment in the locality.
This acquisition is part of SK Hynix’s broader strategy to invest in Vietnam and strengthen its presence in the high-tech industry. South Korea is already the largest foreign investor in Vinh Phuc, with over 200 companies investing a total of $3 billion. SK Hynix’s investment in ISCVina reaffirms its commitment to long-term growth and strategic partnerships in Vietnam.
The acquisition of ISCVina by SK Hynix is a significant development in the semiconductor industry, highlighting the growing importance of Vietnam as a key player in high-tech manufacturing. With this acquisition, SK Hynix is well-positioned to meet the increasing demand for semiconductors and drive innovation in the industry.
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