Headquarters: Seoul, South Korea
Industry sector: Semiconductors
When South Korea’s largest chaebol (conglomerate), SK Group, acquired chip supplier Hynix, it brought a ready-made industry power into the fold: the newly minted SK Hynix has since expressed its willingness to ink cross-licensing deals with competitors to minimise the risk of patent disputes, so it can focus its attentions on its core business. One recent such initiative is an agreement with Samsung Electronics to share the use of semiconductor technologies and patents, in a joint effort to develop more advanced ‘next-gen’ semiconductor technologies. The wider SK Group has recently adopted a new strategic direction in terms of focusing on incubating and collaborating with smaller domestic companies and start-ups. This is intended to spur the SME economy in South Korea; at the same time, SK Group companies including SK Hynix will get access to the talent and technology they need to keep competitive and expand their operations globally.