Memory chipmaker SK Hynix has announced the establishment of wholly-owned subsidiary SK Hynix System IC, which will be specializing in IC foundry services, according to a report from Yonhap News Agency.

SK Hynix in May 2017 already disclosed plans to spin off its 8-inch foundry business into a separate company, which will make non-memory products for fabless companies. The move is to strengthen its competitiveness in the foundry area.

SK Hynix System IC will remain focused on enhancing its 8-inch wafer manufacturing and R&D, and is looking to grab more SoC chip orders for IoT, AI and other emerging applications, the report cited industry watchers as saying.