Samsung Electronics, SK Hynix, together with Korea Development Bank and the Korea Growth Investment Corp., have signed a memorandum for the creation of a 200 Biilion Won ($174.2 million) fund which would be invested in semiconductor-related companies.
The so-called "Semiconductor Hope" fund was announced at
a commemorative ceremony for the 9th Annual Semiconductor Day held at COEX in Seoul on October 27. The fund will make investment mainly in the relatively underdeveloped areas such as fabless and semiconductor equipment and material companies.
The 200 billion won amount will be financed by Samsung Electronics (50 billion won) and SK Hynix (25 billion won).
According to the Trade, Industry, and Energy Minister Joo Hyung-hwan, the Semiconductor Hope Fund "will serve as a catalyst in promoting the growth and creation of systems semiconductor companies."