Others

Kwon Stresses Stability

By Kim Yoo-chul Staff Reporter Looking to ride the surge of the global memory chip market, Kwon Oh-chul, the new head of the world's second-biggest memory chipmaker is looking to stabilize the company's finances. Kwon, the chief executive of Hynix Semiconductor, comes from a background in financial management, not technology, and was picked by the company's creditors to right the ship. Obviously, Kwon's most urgent task would be to find a new owner for the chipmaker, with the 21 percent stake owned by creditors now up for sale. Kwon, who served as Hynix's chief financial officer under former chief Kim Jong-kap, seems to be on the right track. By renewing focus on the company's main markets in DRAMs and NAND flash memory chips, two sectors that are both seeing a rebound in demand, Kwon plans to lower the company's debt to 6 trillion won from the current 7 trillion won by the end of the year. Kwon is also predicting record sales for the Hynix this year, with the global demand in consumer electronics remaining healthy, which would no doubt make the company look t

Memory Boom Has Hynix Looking Up Again

By Kim Yoo-chul Staff Reporter ICHEON, Gyeonggi Province - The executives of Hynix Semiconductor, the world's second-largest memory chipmaker behind domestic rival Samsung Electronics, would do anything they could to attract a new owner for the company. They could only hope that the strengthening chip market, which is predicting record profit for the troubled chipmaker, would make Hynix look more attractive to potential suitors. It remains to be seen whether the strengthening demand for memory chips, driven by an increasing demand for consumer electronics products, would be enough to significantly improve Hynix's financial conditions and motivate potential buyers to go for the splurge. "Potential Hynix buyers have in the past cited uncertainty in the outlook of the global memory chip market, but it is a totally different situation now. Overall, the market is expected to continue its upswing mood over the next two or three years," according to an official at one of Hynix’s creditors. The official, who asked not to be named, predicted that the stalled stake sale proce

Shinhan Card CEO Lee Jae-woo, right, hands out small ...

Basketball fans at Lucas Oil Stadium in Indianapolis, ...

A Woori Bank employee holds up a signboard for a promotion ...

Employees of Kookmin Bank (KB) distribute small gifts, such ...

KOTRA CEO Cho Hwan-ik, center in middle row, and ...

The Industrial Bank of Korea (IBK) gives out tomato and garden ...

PCA Life Insurance sells a new product dubbed, “Magic Insurance ...

Daum Communications Director Kim Ji-hyun lectures to ...