Seoul, Oct. 28 -- South Korean memory chipmaker SK hynix established a 2 trillion won (USD 1.5 billion) financing program alongside major commercial lenders and a state-run trade insurer to provide affordable funding for domestic semiconductor suppliers, according to a news report by The Korea Herald.

The initiative seeks to ease borrowing costs and buffer economic volatility for small and medium-sized vendors of semiconductor materials, parts, and equipment. The Industry Ministry identified the arrangement as the largest trade financing agreement of its kind involving an individual company.

Under the framework, SK hynix and four commercial lenders: Hana, KB Kookmin, Shinhan, and Woori, contributed 100 billion won (~USD 74.64 billion). ...