SK Hynix, Samsung Reject $18.58 Billion Power Prepayment Proposal From KEPCO

MT Newswires Live09-14 16:50

SK Hynix (SKHY) and Samsung Electronics rejected a 25 trillion won ($18.58 billion) advance payment proposal from the state-run Korea Electric Power to support power supplies for planned semiconductor mega clusters, multiple news outlets reported Monday, citing a document submitted to a lawmaker.

The companies declined KEPCO's request to fund power infrastructure for new fabrication facilities due to uncertainty surrounding long-term semiconductor demand, the news outlets reported.

Shares of the company were down more than 6% in Monday premarket activity.

SK Hynix, Samsung Electronics, and Korea Electric Power did not immediately respond to MT Newswires' request for comment.

Price: 177.24, Change: -12.83, Percent Change: -6.75

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