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(Nikkei BP Group)

(No.1 High-Tech News Site in Japanese)

New Year Special Features '99

  • Hyundai, LG DRAM Merger Contract to be Concluded in January
  • January 12, 1999 (TOKYO) — The Federation of Korean Industries on Jan. 7 agreed to conclude the contract to transfer LG Semicon’s shares to Hyundai during the month of January.
    This pending contract is aimed at implementing the consolidation and merger of the two major DRAM businesses in Korea, Hyundai Electronics Industries Co., Ltd. and LG Semicon Co., Ltd.

    This announcement by the FKI was made after Koo Bon-moo, chairman of the LG Group, told Korea’s President Kim Dae-jung on Jan. 6 that the group will transfer the management rights for LG Semicon to Hyundai.

    The FKI is a business organization with Korea’s major business conglomerates (cheabol) as members, and it has been serving as an intermediary to facilitate and push the talks aimed at consolidation and merger of the Hyundai and LG Groups.

    Related story: Hyundai, LG Semicon Close to Agreement on Consolidation

    (Nikkei Electronics, Nikkei Microdevices)

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