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The Economic Times
The Economic Times
Business
Anupam Nagar

Global Market: Samsung, SK Hynix reject $18.7 billion upfront power payment proposal

SK Hynix KEPCO Semiconductor Samsung Electricity South Korea

Samsung Electronics and SK Hynix have rejected a proposal from South Korea's state-run Korea Electric Power Corp (KEPCO) to make a 25 trillion won ($18.7 billion) upfront payment to support electricity infrastructure for planned semiconductor mega clusters, according to a document submitted to a lawmaker.

The two chipmakers told KEPCO that accepting the proposal would be difficult following internal reviews, the document showed. The office of lawmaker Lee Chul-gyu shared the document with Reuters.

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