Samsung logoSamsung Electronics and Hynix Semiconductor, the world's two largest memory chip manufacturers, have agreed to join hands to develop the next generation of semiconductors so that South Korea can stay competitive with its foreign rivals.

Under the three-stage plan A total of about 50M$ will be spent to design and build futuristic chips such as the spin-torque-transfer magnetic-random-access-memory (STT-MRAM) and various non-volatile memory devices.

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