S. Korean gov't has no plans to help Hynix: official

SEOUL, Dec. 8 (Yonhap) -- The South Korean government has no plans to help Hynix
Semiconductor Inc., which is experiencing hard times in the face of sharp drop in
memory chip prices, a senior policymaker said Monday.
In a meeting with foreign correspondents in Seoul, Knowledge Economy Minister Lee
Youn-ho said any support given to the world's second largest chipmaker will be
decided by creditors.
He said that while the size has not been announced, creditors have agreed in
principle to help Hynix.
"The size of the support will be decided by the creditors," the minister stressed.
Hynix reported earnings of around 2 trillion won (US$1.36 billion) in both 2005
and 2006, but began struggling in 2007 due to a weakened global semiconductor
market. Losses may exceed 1 trillion won this year.
yonngong@yna.co.kr
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