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S.Korea Hynix to cut new capacity investment by 45 pct

Fri Jul 10, 2009 5:54am EDT

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SEOUL, July 10 (Reuters) - South Korea's Hynix Semiconductor Inc (000660.KS) on Friday said it will reduce investment in a new production facility by 45 percent to 2.1 trillion won ($1.64 billion) and extend the investment period by two years to 2011.

In a filing to the stock exchange, the world's No.2 chipmaker said it would invest 24.6 percent of its capital between April 2007 and December 2011 to expand 12-inch wafer production capacity in Chungju, south of Seoul.

Originally, it had planned to invest 3.8 trillion won or 44.5 percent of its capital between April 2007 and July 2009, in a board decision made in April 2007.

The company said the revision was made because of changes in the business environment. ($1=1283.4 Won) (Reporting by Shin Jieun; Editing by Cho Meeyoung and Chris Lewis)



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