- Government certifies company's export control compliance program "most excellent"
- SK hynix reaffirms its commitment in preventing chips from being used for weapons of mass destruction or other illegitimate purposes
- SK hynix to devote its best efforts to continue to comply with export controls regulations and international trade standard to ensure safe trade practices across all business areas
SEOUL, South Korea, July 4, 2023 /PRNewswire/ -- SK hynix Inc. (or "the company", www.skhynix.com) announced today that it has obtained the AAA certification, the highest level of voluntary compliance traders for strategic items*, from South Korea's Ministry of Trade, Industry and Energy (MOTIE).
* Strategic items: key products and technologies that the government designates to manage exports and imports, supply and demand to keep national security, foreign policies and domestic market conditions under control
The AAA ratings are given to the companies with the export control compliance programs that are in line with the export control regulations and international trade standard, where the companies have the ability to independently determine whether an item is classified as strategic item as well as the ability to analyze the end-users.
South Korea's trade ministry selects companies with excellent export control compliance programs and categorizes them into three groups – A, AA and AAA – every year, granting the AAA ratings only to those with the most excellent export control compliance programs.
The move comes at a time when many countries and governments around the world make utmost efforts to properly manage global supply chains, introducing measures aimed at preventing semiconductors from being used for weapons of mass destruction or other illegitimate purposes.
SK hynix, with its longtime efforts to improve the export control compliance program for strategic items and export control measures, has been strengthening the capabilities by making persistent investments. Following the obtainment of its first certificate as a self-compliance trader in 2005, it has maintained its AA ratings since acquiring the status in 2014 before accomplishing the highest level of AAA this year.
Kim Youn-wook, Vice President for Corporate Sustainability Management at SK hynix, said that it is an honor for the company to win the government's recognition for its most excellent compliance system. "We will continue to comply with both domestic and international rules and meet requirements from all stakeholders."
About SK hynix Inc.
SK hynix Inc., headquartered in Korea, is the world's top tier semiconductor supplier offering Dynamic Random Access Memory chips ("DRAM"), flash memory chips ("NAND flash") and CMOS Image Sensors ("CIS") for a wide range of distinguished customers globally. The Company's shares are traded on the Korea Exchange, and the Global Depository shares are listed on the Luxemburg Stock Exchange. Further information about SK hynix is available at www.skhynix.com, news.skhynix.com.
