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Hynix saved for now, at least

Hynix saved for now, at least

At least for now, the Korean memory chip maker Hynix seems to have been saved from collapse once again. Creditor banks want to support the company with around four billion US dollars.

So should 1.6 billion US dollars will be exchanged for shares in the group and the 2.4 billion US dollars that Hynix still owes the banks will not be claimed by them until later. This is likely to exacerbate the long-running political dispute between Infineon and Hynix. Since the South Korean government holds the majority of the main creditor, the Korea Exchange Bank, it is accused of subsidizing Hynix. However, government officials have repeatedly denied these claims. Hynix only recently had to sell its display manufacturing facilities, and in order to remain reasonably successful in business, the indebted company's manufacturing facilities for the memory chips should urgently be modernized>