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SK Hynix's acquisition of Key Foundry cleared by South Korean competition watchdog

( March 30, 2022, 01:54 GMT | Official Statement) -- MLex Summary: South Korean chipmaker SK Hynix’s acquisition of a 100 percent stake in local foundry firm Key Foundry was cleared by the country’s competition watchdog today. In a statement, the Korea Fair Trade Commission said it has approved the deal based on its finding that it raises no anticompetitive effects in the global semiconductor foundry market, where the two companies would account for about 1 percent post-merger. SK Hynix filed for merger review in December last year, after striking the 575.8 billion won (about $475.2 million) deal with Magnus Semiconductor, Key Foundry’s parent company, in October the same year. The regulator's statement, in Korean, is attached....

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