NANJING, March 21 (Xinhua) -- Global semiconductor manufacturer SK Hynix will set up a nine-year private school in the city of Wuxi, east China's Jiangsu Province, according to an agreement signed with the city's high-tech zone Wednesday.
The company from the Republic of Korea plans to invest 300 million yuan (44.8 million U.S. dollars) to provide first-class educational resources in the school, which is built for children of company employees and those from its affiliated companies in Wuxi.
With the first-phase construction covering an area of 2.9 hectares, the school is expected to accommodate 1,000 primary and 500 junior high school students. The enrolment time has yet to be announced, local authorities said.
SK Hynix will continue to deepen cooperation with Wuxi in the fields of semiconductors, power batteries, medicine, education and funds, said Lee Seok-hee, CEO of SK Hynix.
Affiliated to SK Group, SK Hynix has invested more than 14 billion U.S. dollars since it came to Wuxi in 2005. In April 2018, SK Hynix announced plans to invest 600 million U.S. dollars to build a hospital in Wuxi, and in September the company established its Chinese sales headquarters in the city.
Li Xiaomin, Party chief of Wuxi, said that SK Hynix had formed a close friendship with Wuxi and achieved impressive results in its 14 years in the city. Wuxi will fully support the school project and work together with SK Hynix for the early completion of the project.
