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(Nikkei BP Group)

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

  • Industry Groups Agree on Merger of Hyundai, LG Microchip Units
  • December 9, 1998 (TOKYO) -- Korea's top government and business leaders agreed Dec. 7 on the merger of the memory microchip makers Hyundai Electronics Industries Co., Ltd. and LG Semicon Co., Ltd., a Hyundai Electronics official told Nikkei Microdevices.
    The merger is based on the outcome of a meeting at which Korean President Kim Dae-Jung invited the country's five largest "chaebol" industrial conglomerates to discuss the overall structural adjustment of major business units including their semiconductor businesses.

    Arthur D. Little, a U.S. management consulting group, will provide advice on the business management rights of the company to be established through the merger of Hyundai and LG's semiconductor business by Dec. 24, according to Hyundai Electronics. The results will be announced on Dec. 25. The schedule for setting up the new company will be announced concurrently.

    Arthur D. Little is now conducting a comprehensive analysis. The responses of the two microchip units to this analysis is expected to be a focus of considerable attention.

    Related stories:
    � Rough Road Ahead for Merger of Korea Semiconductor Giants
    � Korea's Top Groups to Reorganize; Hyundai, LG to Merge IC Units

    (Nikkei Microdevices)

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    Updated: Tue Dec 8 12:50:16 1998 PDT