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Hopes of Hyundai-LG chip merger rise

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A report in English language newspaper The Korea Herald quoted a senior captain of industry today as saying a deal between big chaebols Hyundai and LG to merge their semiconductor businesses is close. The two companies were locked in stalemate because each wanted a controlling state in the venture. At issue is loss of face, along the lines of "my DRAM fab is bigger than yours". According to the Herald Kim Woo-choong, chairman of the Federation of Korean Industries, said that merger transactions were close to completion. However, many analysts believe this is overly optimistic, despite pressure from South Korea's President Kim, the banks, and even the International Monetary Fund (IMF). ® Click here for more stories or try searching on DRAM

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