Asia/Pacific

03/01/1999

Asia/Pacific

Hyundai Electronic Industries is planning to acquire competitor LG Semicon, following another round of negotiations. A spokesman for subsidiary Hyundai Electronics America said a task force has been established to work out the details of the transaction, such as a purchase price for LG, and "what will stay and what will not. We`re not planning to make a major workforce consolidation at this point. We`re looking at integrating LG." The combined Hyundai-LG company will likely be ranked second to leading memory chipmaker Samsung.