SK hynix to provide up to 50% of R&D costs upfront for partner firms
Sk hynix CEO Kwak Noh-jung speaks during an event attended by key executives and representatives of about 100 partner companies, Monday. Courtesy of Sk Hynix Inc.
SK hynix Inc. has announced that it will expand its support programs for partner companies, including providing upfront funding of up to 50 percent of research and development (R&D) costs.
The plan was announced at an event hosted by SK hynix CEO Kwak Noh-jung and attended by key executives and representatives of about 100 partner companies on Monday.
At the technology development stage, SK hynix will introduce a program under which it will provide upfront funding of up to 50 percent of initial R&D costs.
Even if a project fails to result in a successful technology or an actual purchase, SK hynix will make a post-development settlement based on the technological achievements and contributions of the partner company.
At the testing and verification stage, SK hynix will provide access to infrastructure, including production lines, to help partner companies verify the performance and reliability of their products.
At the mass-production stage, SK hynix will provide low-interest financing through its shared-growth fund and expand its consulting program to include second- and third-tier suppliers.
At the sales stage, the chip giant plans to double the size of its fund supporting payments to suppliers to 100 billion won ($73.6 million) from the current 50 billion won.