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Technology Stocks : Alliance Semiconductor

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Jul 10 5:00 PM EST

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To: David Peterson who wrote (4570)	1/28/1999 12:07:00 AM
From: DJBEINO	Read Replies (1) of 9582

Hitachi stops buying memory chips from LG Semicon Jan 28, 1999 - Hitachi of Japan has decided to suspend its purchases of memory chips from LG Semicon and its technical tie-up with the Korean chip maker because of the projected acquisition by Hyundai Electronics Industries, industry sources said Wednesday. The Japanese company annually imported dynamic random access memory chips worth US$320 million from LG on an original equipment manufacturing basis. That had accounted for 15% of the Korean firm's output. Further, LG's major clients such as Hewlett-Packard Korea and Compaq Korea are considering whether to shift to suppliers in Taiwan or Japan because of the short supply coming from LG. LG Semicon has suspended production because of strike by its employees who are protesting the sale of the company to Hyundai Electronics Industries. LG reported that it was suffering a loss of production of 100 billion won (US$85 million), or daily average of 10 billion won (US$8.5 million) as a result of sit-it by its workers. LG's trade union is in strike, calling for a five-year employment guarantee from Hyundai.

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