Hynix Semiconductor Inc. has agreed to pay a $185 million fine to settle a far-reaching dynamic random access memory chip price-fixing scandal in the United States.
This is the third-largest criminal antitrust fine in U.S. history.
On a positive note, Hynix creditors approved a $1.5 billion debt-refinancing plan that will allow management to regain control of the company 20 months ahead of schedule.
Hynix was rescued in December 2002 by a multi-billion dollar bailout. It has made an impressive turnaround, going from roughly a $1.7 billion loss in 2003 to a $1.7 net profit last year.
The Korea Herald notes that the fine was less than the chipmaker was prepared to pay. It had set aside $342 million to cover the investigation brought on by the U.S. Department of Justice.
The $185 million fine may be paid in installments over the next five years without interest.
In addition to Hynix, the investigation involved other chipmakers, including Infineon Technologies AG, Micron Technology Inc. and Samsung Electronics.
Infineon agreed to pay $160 million last year, while Samsung Electronics, the world's largest memory chipmaker, said it had set aside $100 million for fines resulting from the U.S. investigation.
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