(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.
� Rough Road Ahead for Merger of Korea Semiconductor Giants
� Korea's Top Groups to Reorganize; Hyundai, LG to Merge IC Units
<Visit News Center for more Asian news.>