Business news

MINSK, 19 September (BelTA) – SK hynix, a South Korean resident company of the Hi-Tech Park in Minsk, has opened an R&D software center using its own brand, BelTA has learned.

The Belarusian R&D software development center is the company’s only representative office in Eastern Europe. It is the first considerable investment on the part of the Korean company in the Belarusian IT market.

Hi-Tech Park Director Vsevolod Yanchevsky, SK hynix First Vice President Jason Lee, Director of SK hynix memory solutions Eastern Europe Company Howard Christopher Alan, Ambassador of the Republic of Korea to Belarus Kim Yong Ho, and Deputy Chairman of the State Science and Technology Committee of Belarus Sergei Shcherbakov took part in the opening ceremony.

According to Vsevolod Yanchevsky, the arrival of the world’s top companies in Belarus is a direct result of the Digital Economy Development Ordinance signed by the Belarus president.

Howard Christopher Alan thanked Korean partners for support and considerable investments in the new office. He also added: “We started working in Belarus about five years ago. We wouldn’t have been able to work without the support of the Hi-Tech Park.”

Kim Yong Ho stressed that SK hynix Company is one of the largest and most respected companies in South Korea. “Some 60 SK hynix employees worked in Belarus several years ago. Now the number is close to 180. Only one specialist has come from Korea. The other ones are local specialists. It happens very rarely. I think their number will grow even higher and they will make a large contribution to the development of the society,” said the ambassador.

SK hynix is part of SK Group, one of the world’s largest holding companies, and accounts for about one half of capitalization of the South Korean group. In 2017 the company reported an 80% increase in earnings, with the total sum close to $30 billion. This year’s financial indicators have increased by 20% already. SK hynix is the world’s fastest growing microchip and operating memory producer. Its solutions are used in products made by Apple, Microsoft, LG, HP, Dell, and Asus.