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[Alpha Biz=(Chicago) Reporter Kim Jisun] SK Hynix will sell its water treatment center to secure cashable assets of around 1 trillion won.
SK Hynix will secure cashable assets of around 1 trillion won by selling its water treatment center, a water purification facility for its semiconductor plant.
SK Hynix announced on the 10th that it will sell its water treatment center at its Icheon campus in Gyeonggi Province to SK REITs.
SK REITs completed the application for approval of the transaction to the Ministry of Land, Infrastructure and Transport. The two companies plan to go through a board meeting this month. Once the government approves it, it will finalize the transfer process of assets in the second half of the year by confirming the sale price. SK Hynix plans to rent the facility from SK REITs after selling the water treatment center.
The semiconductor industry believes that SK Hynix will be able to secure around KRW 1 trillion in cashable assets through this sale. It is also said that it will try to improve the financial health while improving the difficult financial situation.
As of the end of last year, SK Hynix's cashable assets were 6.4 trillion won, down 2.3 trillion won from the end of last year. At the end of the first quarter, the size decreased again to 6.14 trillion won. Borrowings, including interest costs, reached 28.76 trillion won as of the end of the first quarter, up 5.76 trillion won from the end of last year.
SK Hynix is focusing on securing funds by using various means in this situation. Earlier, SK Hynix issued 1.6949 trillion won in corporate bonds in the first quarter and 2.2377 trillion won in exchange bonds in the second quarter. Recently, Hana Bank received a loan worth 200 billion won.
SK Hynix will increase financial safety by securing funds and invest in preparation for the future boom.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
