South Korean chipmaker SK Hynix worries about China future

By KIM TONG-HYUNG
Associated Press

SEOUL, South Korea (AP) — South Korean computer chipmaker SK Hynix says it might be forced to sell its manufacturing operations in China if a U.S. crackdown on exports of semiconductor technology and manufacturing equipment to China intensifies. SK Hynix’s chief marketing officer raised those concerns during a conference call on Wednesday after the company reported that its operating profit dropped 60% in the last quarter from the year before. It blamed the decline on a deteriorating business environment. Global inflation amplified by Russia’s war on Ukraine and rising interest rates imposed by central banks to counter surging prices have slowed consumer spending on the kinds of high-tech products requiring computer chips.