Hyundai Electronics becomes Hynix Semiconductor
To distance itself from its parent company and make the point that it is a chip company, Hyundai Electronics Industries Co. plans to change its name to Hynix Semiconductor Inc. next month. The Hyundai Group is South Korea's largest conglomerate and Hynix is the first major Hyundai affiliate to take its own name. The company is the world's ninth largest memory chip manufacturer and plans to sell non-chip assets to raise $3.6 billion for debt reduction.
For more information, read ap.yahoo and ebnews.com.
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