Hynix to Invest $260 Mil. in China Venture

Hynix Semiconductor Inc., the world's No. 2 computer memory chip maker, said Friday it plans to spend 249 billion won ($260 million) in its Chinese venture with

STMicroelectronics NV this year.

The investment is aimed at increasing production capacity at its joint plant in the eastern Chinese city of Wuxi, South Korea-based Hynix said in regulatory filing.

Hynix added that it will hold its annual shareholder meeting on March 28.

Geneva-based STMicroelectronics is Europe's largest semiconductor maker