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SK Hynix announces capex cuts by 50%, and selling China fabs could be option in contingency plan
In the third quarter earnings result conference, SK Hynix Chief Marketing Officer Kevin Noh said the company is cutting its 2023 capital expenditure by more than 50% year-on-year in light of over-supply on the memory market and revealed consideration of selling its fabs in China if US-China Chip War makes its operation in China too difficult to continue.
Noh stressed it is a contingency plan, although the company hopes to continue operating in China. He said if the Chip War makes it too difficult to maintain its operations in China, it will consider selling the fab, selling the equipment, or moving the equipment to South Korea as a contingency plan.
The current year's investment is expected to be in the upper range of KRW 10-20 trillion (approximately US$7 - 14 billion)
SK Hynix also revealed that it plans to gradually reduce the production volume of its relatively less profitable products. The plan is to normalize the market's supply and demand balance by maintaining current investment trend and production reduction for a certain period of time.
"We will leap forward as a leading semiconductor memory player by overcoming this downturn based on our potential that has always turned crises into opportunities in the past," said Noh.
SK Hynix reported on October 26 with sales and operating profits decreased by 20.5% and 60.5% quarter-on-quarter respectively as the semiconductor memory industry faces unprecedented deterioration that sees slumping shipments from PCs and smartphone manufacturers, who are major buyers of memory chips.
However, SK Hynix anticipated that the demand for memory chips in data center servers, while decreasing in the short term, will continue to grow in the mid-to-long-term, as hyper-scale data centers are continuing their investment to meet the increasing scale of industries such as artificial intelligence (AI), big data and metaverse. SK Hynix emphasized that as it is leading the latest DRAM technologies such as high bandwidth products, including high bandwidth memory 3 (HBM3) and DDR5/LPDDR5, the company will solidify its position in terms of long-term growth.
In addition, SK Hynix stressed that it will expand mass production of the industry's first 238-layer 4D NAND next year, which was developed in the third quarter of this year, and by doing so secure cost competitiveness and increase profitability continuously.
Although SK Hynix and Samsung both received a 1-year exemption from the US government from the new export controls announced on October 7, a recent report by Rhodium warned that the South Korean memory manufacturers should not count on the renewal of the license, as the ban is likely to spill over to them eventually.
Since memory chip manufacturers need to upgrade their equipment frequently to ensure competitiveness, US export control on importing advanced DRAM and NAND tools would make their investments in China eventually uncompetitive.
"New restrictions on the memory market are considered to be most acute because Chinese companies are much more competitive in memory (90% of China's leading-edge capacity), compared to logic chip production (10%)," said Rhodium.
Editor's note: SK Hynix responded with the following statement for clarification:
SK hynix position on the issue:
October 26, 2022
- We would like to clarify our position with regard to the operation of our fabs in China as below:
- During the 3Q22 earnings conference call this morning, one of our executives made general statements that we could consider a contingency plan in the future *IF* various business circumstances such as geopolitical issues arise, which make it difficult for us to operate our Chinese fabs.
- Particularly, comments on the possible transfer of the Chinese facilities are based on extreme cases with low possibilities. We want to make it clear that we haven't reviewed such options in detail and seriously.
- We are currently operating our China fabs without issue as we were given by the Department of Commerce a one-year authorization on the US export controls on chip-manufacturing equipment and we expect to continue the normal operations of our fab in China.
Security.
CONTINGENCY OPERATING LOCATION MCHENRY, Iraq – Pfc. Tyler Moore, infantryman, Company A, 1st Battalion, 14th Infantry Regiment, 1st Advise and Assist Task Force, 1st Infantry Division, pulls security during counter indirect fire operations, in Kirkuk province, Iraq March 11, 2011. During Counter IDF missions, Moore, who hails from Athens, Tenn., and his platoon search for violent extremists to prevent mortar and rocket attacks on U.S. Soldiers and Iraqi civilians.
(U.S. Army photo by Spc. Andrew Ingram, USD-N PAO)
Sticker.CONTINGENCY OPERATING BASE SPEICHER, Iraq – Petty Officer 1st Class Eric Sobczak, from Chesapeake, Va., a member of the U.S. Coast Guard Redeployment Assistance and Inspection Detachment, places an inspection sticker on a shipping container at Contingency Operating Base Speicher, Iraq, Sept. 13, 2011. The team ensures that containers used by the U.S. Army are properly packed and labeled before shipping. (U.S. Army photo by Spc. Crystal Hudson, 29th MPAD, USD – N PAO)
A contingency of Northwestern State University students visit Universitaria Tecnologico Comfenalco and Universidad Libre in Cartagena, Colombia as part of their capstone leadership program.
Members of the Kentucky Air National Guard’s 123rd Contingency Response Group participate in a weeklong exercise called Operation Huron Thunder at the Alpena Combat Readiness Training Center in Alpena, Mich., from July 22 to 27, 2018. The 123rd CRG worked in conjunction with the U.S. Army’s 690th Rapid Port Opening Element to operate a Joint Task Force-Port Opening. The objective of the JTF-PO is to establish an aerial port of debarkation, provide initial distribution capability and set up warehousing for distribution beyond a forward node. (U.S. Air National Guard photo by Maj. Allison Stephens)
Members of the Kentucky Air National Guard’s 123rd Contingency Response Group participate in a weeklong exercise called Operation Huron Thunder at the Alpena Combat Readiness Training Center in Alpena, Mich., from July 22 to 27, 2018. The 123rd CRG worked in conjunction with the U.S. Army’s 690th Rapid Port Opening Element to operate a Joint Task Force-Port Opening. The objective of the JTF-PO is to establish an aerial port of debarkation, provide initial distribution capability and set up warehousing for distribution beyond a forward node. (U.S. Air National Guard photo by Maj. Allison Stephens)
CONTINGENCY OPERATING BASE SPEICHER, Iraq – Participants in the Task Force Ironhorse Turkey Trot form up on the starting line in the moments preceding the commencement of the five-kilometer race at Contingency Operating Base Speicher, Iraq, Nov. 25. The more than 230 COB Speicher Soldiers and civilian contractors participated in the race. The race began and finished on Big Red One Avenue outside the U.S. Division-North Headquarters building. (U.S. Army Photo by Spc. David Strayer, 109th MPAD, USD-N)
CONTINGENCY OPERATING LOCATION Q-WEST, Iraq —Iraqi Army Soldiers of 1st Company, 2nd Battalion, 26th Brigade, who just voted in Ninawa Province during the special elections talk with Soldiers of C Company, 1st Squadron, 278th Armored Cavalry Regiment of the Tennessee Army National Guard headquartered in Henderson, Tenn. These Iraqi Soldiers were permitted to vote along with other security personnel prior to the regular parliamentary elections scheduled for March 7. The Iraqi Army provides a protection force for a pump house on the Tigris River in Ninawa Province, and the 1/278th ACR, who has just recently occupied Q West, will be conducting patrols to that area on a regular basis, even after the completion of the election.
BDOC hub.
CONTINGENCY OPERATING BASE SPEICHER, Iraq – Spc. Christopher Cureton, an infantryman assigned to Headquarters Support Company, Division Special Troops Battalion, 4th Infantry Division, monitors base security from the Base Defense Operations Center at Contingency Operating Base Speicher, Iraq, March 1, 2011. BDOC personnel provide planning, intelligence and support for Company D Soldiers responsible for maintaining defense forces and protective measures for the troops deployed to COB Speicher in support of Operation New Dawn.
(U.S. Army photo by Spc. Andrew Ingram, USD-N PAO)
Closing a contingency hospital, packing up the supplies and equipment
had to build this skid and support for this x-ray for shipment to Germany... made it without damage. didn't have much to work with
KAISERSLAUTERN, Germany - Brig. Gen. Joe Bass, Expeditionary Contracting Command commanding general, presents Maj. Jim Lee, 409th Contracting Support Brigade, with the Contingency Contracting Officer Award.
The award is given to individuals assigned to ECC who have a Defense Acquisition Workforce Improvement Act level II in Contracting, served as a warranted contracting officer; served for a cumulative 12 months as a 51C (contingency contracting officer) in support of ECC expeditionary operations, pass all Army Contracting Command 51 C Proficiency Guide for Contracting Officers assessments, and demonstrated good conduct.
Lee is the second recipient of the award.
Airmen assigned to the 621st Contingency Response Wing, process through a personnel deployment function (PDF) line during an operational readiness inspection at Travis AFB, Feb. 1, 2016. The base is currently conducting Crisis Look 16-01, to evaluate rapid mobile global readiness. The PDF line ensured Airmen were medically, legally and financially ready to deploy. Personnel from the 60th Logistics Readiness Squadron, 60th Force Support Squadron and chapel staff were on hand to address deployment-related concerns. (U.S. Air Force Photo by Heide Couch/Released)
Weapons clear.
CONTINGENCY OPERATING SITE WARRIOR, Iraq – First Lieutenant Dustin Vincent, mission commander, Battery A, 1st Battalion, 5th Field Artillery Regiment, 1st Advise and Assist Task Force, 1st Infantry Division, inspects Pfc. Robert Bloom’s weapon upon returning to Contingency Operating Site Warrior, Iraq, following combined checkpoint validations, Aug. 30, 2011.
(U.S. Army photo by Staff Sgt. Robert DeDeaux, 1st AATF PAO, 1st Inf. Div., USD-N)
A contingency of Northwestern State University students visit Universitaria Tecnologico Comfenalco and Universidad Libre in Cartagena, Colombia as part of their capstone leadership program.
LIBAVA, Czech Republic -- An A-10 Thunderbolt II pilot from the 81st Fighter Squadron shoots training rounds Sept. 14, during a close air support mission a part of Ramstein Rover 2012 at a training range here. RARO 12 is a NATO exercise focused on preparing forward air controllers for contingency operations. Sixteen NATO member nations are participating in the exercise to establish and build upon common techniques, tactics and practices. (U.S. Air Force photo by Senior Airman Natasha Stannard/ Released)
FORT SHAFTER, Hawaii – Commander of the U.S. Pacific Fleet, Fleet Adm. Cecil Haney, visited the U.S. Army Pacific Contingency Command Post to get a first-hand look at their operations and capabilities, on Fort Shafter, Hawaii, Nov. 7. CCP Soldiers illustrated some of these aspects to Haney via a mobile operations display at the CCP, consisting of a Deployable Rapid Assembly Shelter (DRASH), vehicles, communications equipment and Soldiers, set up as they would be for a forward mission.
(U.S. Army photo by Maj. Edward Hooks, U.S. Army, Pacific Contingency Command Post Public Affairs Office)
Preparing for rehearsal.
CONTINGENCY OPERATING SITE WARRIOR, Iraq – Maj. David Linville, brigade engineer, 1st Advise and Assist Task Force, 1st Infantry Division, prepares a “sand table” for a rehearsal of concept drill at Contingency Operating Site Warrior, March 30, 2011. Military leaders built sand tables, three-dimensional models of the operating area, to collectively brief U.S. Division-North senior leaders on plans to transfer U.S. bases to Iraqi control during Operation New Dawn.
(U.S. Army photo by Spc. Andrew Ingram, USD-N PAO)
U.S. Air Force logistics personnel, assigned to the 621st Contingency Response Wing from Joint Base McGuire-Dix-Lakehurst, New Jersey, load support equipment and rolling stock cargo onto a contracted Boeing 747 airliner at McEntire Joint National Guard Base, South Carolina, July 9, 2018. The South Carolina Air National Guard’s 169th Fighter Wing is deploying nearly 300 Airmen and approximately a dozen F-16 Block 52 Fighting Falcon fighter jets to the 407th Air Expeditionary Group in Southwest Asia in support of an Air Expeditionary Force rotation. (U.S. Air National Guard photo by Senior Airman Megan Floyd)
FORT SHAFTER, Hawaii – Commander of the U.S. Pacific Fleet, Fleet Adm. Cecil Haney, visited the U.S. Army Pacific Contingency Command Post to get a first-hand look at their operations and capabilities, on Fort Shafter, Hawaii, Nov. 7. CCP Soldiers illustrated some of these aspects to Haney via a mobile operations display at the CCP, consisting of a Deployable Rapid Assembly Shelter (DRASH), vehicles, communications equipment and Soldiers, set up as they would be for a forward mission.
(U.S. Army photo by Maj. Edward Hooks, U.S. Army, Pacific Contingency Command Post Public Affairs Office)
Dane Cook performing at Contingency Operating Base Speicher, Iraq, during a USO comedy show on 31 May.
‘All Soldiers are entitled …’
CONTINGENCY OPERATING BASE SPEICHER, Iraq – Command Sgt. Maj. Daren Warren, 4th Infantry Division Logistics sergeant major, discusses the basic duties and responsibilities of noncommissioned officers with a group of newly promoted sergeants during a Division Special Troops Battalion NCO Induction ceremony at Contingency Operating Base Speicher, Iraq, Jan. 17, 2011. Warren, who calls Fountain, Colo. home, delivered the opening speech during the induction ceremony, addressing the Creed of the Noncommissioned Officer, and its importance as a guide for new and senior NCOs alike. "All Soldiers are entitled to excellent leadership," said Warren. "It is you who will now provide that leadership."
(U.S. Army photo by Sgt. David Strayer, 109th MPAD, USD-N PAO)
Senior Airman Cyril McKenney, 451st Expeditionary Aeromedical Evacuation Squadron Detachment 1 Contingency Aeromedical Staging Facility aerospace medical technician, directs CASF members as to which order to load wounded Marines onto a C-130 Hercules at Camp Bastion, Afghanistan. The CASF team is responsible for taking care of and transporting patients from the staging facility and role hospital to aircraft who are then transported to the next level of medical care. Airman McKenney is deployed from the 633rd Medical Operations Squadron, Joint Base Langley-Eustis, Va. (U.S. Air Force photo/Master Sgt. Adrian Cadiz)(Released)
The 123rd Contingency Response Group provides logistical support to Haiti during Operation Unified Response, Barahona, Dominican Republic. The Kentucky Air National Guard daily dispatches over 160,000 pounds of vital humanitarian supplies from the United States to the earthquake victims of Haiti. The 123rd CRG represent a broad spectrum of specialties, including airfield security, ramp and cargo operations, and command and control. Most of the group's Airmen have operational experience from multiple deployments to Iraq and Afghanistan, as well as from stateside operations in support of relief efforts following Hurricane Katrina and during last year's ice storm in Western Kentucky.
On the berm.
CONTINGENCY OPERATING SITE WARRIOR, Iraq – Cpl. Eric Cassavaugh, a Baltimore native and petroleum supply specialist assigned to Security platoon, Company A, 101st Brigade Support Battalion, 1st Advise and Assist Task Force, 1st Infantry Division, takes cover behind a berm at Contingency Operating Location Manila, providing security for his platoon as they unload supplies in support of Operation New Dawn, March 1, 2011. The security platoon of Company A ensures rations, medical supplies, fuel and ammo are delivered regularly to the contingency operating sites in Kirkuk province
(U.S. Army Photo by SSG Robert Dedeaux, 1st AATF PAO, 1st Inf. Div., USD-N)
Tech. Sgt. Brian Angell, 435th Contingency Response Group personnel parachute program manager, waits to jump out of a C-130 J-model during the Air Force-specific portion of Saber Strike at Lielvarde Air Base, Latvia, June 17, 2014. During the final week of Saber Strike 2014 the 435th CRG, in conjunction with the 37th Airlift Squadron, trained on the full capabilities to open the Latvian air base. They also trained with Latvian and Estonian service members on airfield operations, command and control of air and space forces, weather support, and protection of operational forces, aircraft maintenance and aerial port services. (U.S. Air Force photo/Senior Airman Jonathan Stefanko)
U.S. Air Force Staff Sgt. William Taylor, 821st Contingency Response Group provides remarks during the Honorary Commanders boot camp at Travis AFB, Calif., April 6, 2018. The boot camp is designed to familiarize participants with Air Force organization, customs and courtesies and core values. The purpose of the Travis Air Force Base Honorary Commander Program is to promote relationships between base senior leadership and civilian partners, foster civic appreciation of the Air Force mission and its Airmen, maximize opportunities to share the Air Force story with new stewards, and to communicate mutual interest, challenges, and concerns that senior leaders and civilian stakeholders have in common. (U.S. Air Force photo by Louis Briscese)
FORT SHAFTER, Hawaii – Commander of the U.S. Pacific Fleet, Fleet Adm. Cecil Haney, visited the U.S. Army Pacific Contingency Command Post to get a first-hand look at their operations and capabilities, on Fort Shafter, Hawaii, Nov. 7. CCP Soldiers illustrated some of these aspects to Haney via a mobile operations display at the CCP, consisting of a Deployable Rapid Assembly Shelter (DRASH), vehicles, communications equipment and Soldiers, set up as they would be for a forward mission.
(U.S. Army photo by Maj. Edward Hooks, U.S. Army, Pacific Contingency Command Post Public Affairs Office)
Clockwise from left: Natascha Sadr Haghighian, Donation Tower (former value $10,000), part of Day After Debt: A Call for Student Loan Relief, 2014, sculpture; BFAMFAPhD, Artists Report Back, 2014, Video, 6:45 min.; Key Findings (Percentage of Working Artists and Arts Graduates), 2014, digital prints; Mutually Exclusive Race and Ethnicity for Total Population and Artists 2012, U.S., 2014, digital prints; Sex for Total Population and Artists U.S. 2012, 2014, digital prints; Of Supply Chains, 2015, cards, website, syllabi; … in which nothing can be finally paid off, 2014, printed paper.
Airmen of the 108th Wing Honor Guard practice prior to the 108th Contingency Response Group’s Assumption of Command ceremony at Joint Base McGuire-Dix-Lakehurst, N.J., Dec. 8, 2013. (U.S. Air National Guard photo by Master Sgt. Mark C. Olsen)
IA soldiers observe.
CONTINGENCY OPERATING SITE MAREZ, Iraq – Soldiers assigned to 1st Battalion, 10th Brigade, 3rd Iraqi Army Division, take cover behind a hill while waiting for “enemy troops” during ambush training at Ghuzlani Warrior Training Center, June 9, 2011. Soldiers assigned to Troop C, 1st Squadron, 9th Cavalry Regiment, 4th Advise and Assist Brigade, 1st Cavalry Division, trained the IA soldiers how to set up, conduct and react to ambushes.
(U.S. Army photo by Spc. Angel Turner, 4th AAB PAO, 1st Cav. Div., USD-N)
Capt. Gardner celebrates with Iraqi kids.
CONTINGENCY OPERATING BASE SPEICHER, Iraq – Capt. Andrew Gardner, commander, Company A, 1st Battalion, 27th Infantry Regiment, 2nd Advise and Assist Brigade, 25th Infantry Division, celebrates with Iraqi children during the re-opening of a water purification and distribution center in al Alam Nahiya, April 3, 2011. U.S Division-North Soldiers provided funding, while Iraqi contractors completed the water station, which provides the children and 4,000 Iraqi families with drinkable water.
(U.S. Army photo by Sgt. Coltin Heller, 109th MPAD, USD-N PAO)
Command Sgt. Maj. Allen addresses ODIN Soldiers.
CONTINGENCY OPERATING BASE SPEICHER, Iraq – Command Sgt. Maj. Joseph R. Allen, U.S. Forces-Iraq command sergeant major, addresses Soldiers of Task Force Observe, Detect, Identify and Neutralize, at Contingency Operating Base Speicher, Iraq, Feb. 1, 2011. Allen toured COB Speicher visiting Soldiers, providing guidance and answering questions about operations in Iraq. As he addressed Soldiers, Allen stressed the importance of each service member deployed in support of Operation New Dawn and encouraged the troops to maintain vigilance and avoid complacency.
(U.S. Army photo by Sgt. David Strayer, 109th MPAD, USD-N PAO)
Staff Sgt. Daniel Gonzalez, 621st Contingency Response Squadron air transportation supervisor, guides a Humvee onto a Halvorsen Small Loader during Operational Readiness Exercise 03-16 in Gulfport, Mississippi March 8, 2016. The load was part of a static-load training exercise for aircrew. (U.S. Air Force photo/Senior Airman Lauren Pitts)
Airmen assigned to the 621st Contingency Response Wing, process through a personnel deployment function (PDF) line during an operational readiness inspection at Travis AFB, Feb. 1, 2016. The base is currently conducting Crisis Look 16-01, to evaluate rapid mobile global readiness. The PDF line ensured Airmen were medically, legally and financially ready to deploy. Personnel from the 60th Logistics Readiness Squadron, 60th Force Support Squadron and chapel staff were on hand to address deployment-related concerns. (U.S. Air Force Photo by Heide Couch/Released)
Tracking.
CONTINGENCY OPERATING SITE WARRIOR, Iraq – Sgt. 1st Class Jeffrey Moore, brigade medical noncommissioned officer, 1st Advise and Assist Task Force, 1st Infantry Division, works to keep medics of 1st AATF current on training and certifications while deployed to Contingency Operating Site Warrior, Iraq, as a part of U.S. Division-North, April 17, 2011.
(U.S. Army photo by Spc. Andrew Ingram, USD-N PAO)
ALBUQUERQUE, N.M., -- Phil Lovato was recognized by District Commander Lt. Col. Patrick Dagon, Oct. 6, 2014, for his service overseas in support of Overseas Contingency Operations. Photo by Elizabeth Lockyear, public affairs.
Information gathering.
CONTINGENCY OPERATING LOCATION MCHENRY, Iraq – Sgt. 1st Class Lenny Diaz, platoon sergeant, Company A 1st Battalion, 14th Infantry Regiment, 1st Advise and Assist Task Force, 1st Infantry Division, from Schofield Barracks, Hawaii, asks Iraqi citizens from Doul Al Salo in the Kirkuk province of Iraq for information about violent extremists responsible for rocket attacks on Contingency Operating Site McHenry, March 11, 2011.
(U.S. Army photo by Spc. Andrew Ingram, USD-N PAO)
CoIST brief.
CONTINGENCY OPERATING SITE WARRIOR, Iraq – Cpl. Daniel Waller, noncommissioned officer in charge of Company Intelligence Support Team, Company A, 101st Brigade Support Battalion, 1st Advise and Assist Task Force, 1st Infantry Division, briefs Soldiers prior to a mission at Contingency Operating Site Warrior, April 10, 2011. Waller, a Des Moines, Iowa native, informs the 'Avalanche' Soldiers on important intelligence his team collects and analyzes to keep mission leaders aware of current situations before conducting missions.
(U.S. Army photo by Pfc. Alyxandra McChesney, 1st AATF PAO, 1st Inf. Div., USD-N)