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

To: StanX Long who wrote (63349)	5/1/2002 1:38:38 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

As Days of Our Life, drags on and on,South Korean economy minister hints at new talks with Micron Wednesday May 1, 12:24 PM sg.biz.yahoo.com South Korea's Finance and Economy Minister Jeon Yun-Churl said that new talks could be held to sell debt-stricken Hynix Semiconductor Inc. to Micron Technology Inc of the United States. A day after the Hynix board vetoed an accord to sell the firm's core operations to Micron, Jeon urged South Korean creditor banks to accept any Micron offer for new negotiations, adding he opposed the giving of any new loans to Hynix. "There is no need to refuse" any Micron offer to re-open talks, Jeon told reporters on Wednesday. The board decision left the fate of the world's third largest memory chip maker in doubt as it struggles with liabilities estimated at 9.0 trillion won (6.7 billion dollars). Jeon called for creditors to resolve Hynix's problems as quickly as possible and said an extension of fresh loans to Hynix and debt write-offs would be "undesirable" if the ailing company insists on remaining independent. Jeon said creditors should decide whether to place Hynix under court receivership. The board rejected a non-binding accord negotiated between key Hynix creditors and Micron, expressing doubt over the viability of the remaining Hynix businesses if Micron took over the company's core memory chip assets.