SK hynix to provide up to 50 pct of R&D costs upfront for partner firms

SK hynix Inc. has unveiled plans to bolster its support for partner companies by offering up to 50% of their research and development (R&D) expenses upfront. The initiative was unveiled at a gathering led by SK hynix's CEO, Kwak Noh-jung, where key executives and representatives from approximately 100 partner firms gathered. During the technology development phase, SK hynix will extend a program that earmarks an upfront funding commitment of up to 50% of a partner's initial R&D expenditures.

Regardless of whether a project culminates in a successful product or technology, SK hynix will facilitate a post-development settlement founded on the technological contributions and advancements achieved by the partner. At the testing and verification stage, SK hynix will extend access to its infrastructure, including production lines, to aid partner companies in verifying the performance and reliability of their offerings.

Lastly, at the mass-production stage, SK hynix will provide low-interest financing via its shared-growth fund and broaden its consulting services to encompass second- and third-tier suppliers as well.