SK Hynix has moved its global sales and marketing team to Seoul, and the purchasing team has been split into front and back end

March 27, according to foreign media reports, chipmaker SK Hynix has moved its global sales and marketing team (known as GSM within the company) from Incheon to Seoul.

Sources said SK Hynix moved the team to Seoul because it was easier to meet foreign guests, it was easier to hire staff, and there was a lack of space at its Incheon headquarters.

In order to strengthen the procurement of parts and equipment used in the back-end of chip production, the company has also split its procurement team into front-end and back-end teams.

Affected by weak demand and oversupply in the global chip market, SK Hynix posted its largest-ever quarterly loss in the fourth quarter of fiscal 2022.

The company posted an operating loss of 1.7 trillion won ($1.4 billion) in the quarter, compared with a profit of 4.2 trillion won (CTOnews.com note: about 22.176 billion yuan) in the same period last year, its first quarterly operating loss since the third quarter of 2012.