Hynix Semiconductor has officially introduced its new name, SK Hynix, reflecting its new membership to the SK Group. The memory chip vendor held a ceremony on March 26 to celebrate its new start.

SK's acquisition of a 21% stake in Hynix was completed in February.

SK Hynix at the ceremony revealed plans to expand its business scope to include non-memory semiconductor products, aiming to be a global leading semiconductor company. In addition to mobile DRAM and NAND flash, the firm is gearing up for a growing presence in the market for CMOS image sensors and expects all product segments to benefit from mass-market adoption in mobile electronics.

In addition, SK Hynix said the firm will enhance its foothold in China, in line with its parent group's strategy.

SK Hynix was founded in 1983 with the name of Hyundai Electronics Industries. It merged with LG Semiconductor in 1999, and changed its name to Hynix Semiconductor in 2001.

SK Group is one of South Korea's largest conglomerates, and is also the parent company of SK Telecom, the top mobile carrier in the country.