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Industry

Semiconductor special act enforcement decree passed by cabinet meeting

South Korea has put in place a legal framework to support the semiconductor industry after the Cabinet approved a draft enforcement decree for the Special Act on Strengthening and Supporting Semiconductor Industry Competitiveness, the Ministry of Trade, Industry and Energy said on Monday. The decree details delegated matters under the law, including a special committee, cluster designation procedures, workforce training support and management of a special account. The law and decree take effect on Aug. 11.

Industry

SK Hynix shares slide despite record results

SK Hynix set this year’s investment plan at the high 40 trillion won range, raising concerns that today’s margin structure may be hard to sustain as depreciation rises. On a conference call, questions also focused on the risk of oversupply, terms of long-term supply agreements and the company’s shareholder return plans. Shares fell 17.42 percent on July 29. The company also outlined conditions for converting between its Seoul-listed shares and Nasdaq-listed ADRs.

Industry

SK Hynix Q2 operating profit 60.5 trillion won, up 557 percent on year

SK Hynix said on Tuesday its second-quarter sales rose 256.8 percent from a year earlier to 79.3 trillion won and operating profit jumped 557.2 percent to 60.5 trillion won, with an operating margin of 76 percent. It set another quarterly record after the previous quarter. First-half sales topped 100 trillion won for the first time. The company cited price rises in DRAM and NAND and expanded sales of high-value products including HBM and AI server DRAM.