SK hynix has partnered with the South Korean government and four major banks to launch a financing program worth 2 trillion won (approximately $1.5 billion) for domestic semiconductor suppliers. The initiative aims to ease financial pressure on small and mid-sized companies that provide materials, components and equipment, strengthening the national chip supply chain.
SK hynix and the banks will establish a 100 billion won fund. The Korea Trade Insurance Corporation will use it to provide loan guarantees of up to 2 trillion won.
Suppliers recommended by SK hynix will be able to access larger loans at preferential interest rates and with reduced fees. The financing is intended to support their operations, technology development and capacity expansion.