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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (60743)	2/20/2002 2:32:43 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Korea commerce min seeks Hynix, Samsung tie-up Reuters, 02.19.02, 11:46 PM ET forbes.com By Kim Ung and Kim Miyoung SEOUL, Feb 20 (Reuters) - South Korea's commerce minister suggested on Wednesday that Hynix Semiconductor Inc should tie up with local rival Samsung Electronics if it could not agree on an alliance with Micron Technology Inc of the United States. But Samsung immediately threw cold water on the idea, saying that an alliance with Hynix was not on the cards. Hynix <00660.KS> and Micron (nyse: MU - news - people) have spent more than two months discussing an alliance to surpass Samsung Electronics Co <05930.KS> as the world's biggest memory chip maker. "Cooperation and a tie-up between Samsung and Hynix would contribute to Korea's chip industry," Commerce Minister Shin Kook-hwan told reporters just before a breakfast meeting with the chief executives of Hynix and Samsung. Hynix chief executive Park Chong-sup told reporters after the meeting that Hynix and its creditors were working toward a deal with Micron. "We will soon send our counter-proposal to respond to Micron's demands," Park said. "The talks could face a rupture if no memorandum of understanding is clinched by the end of this month," Park said.