[The Hankyoreh, October 1 2007] Hynix, Ovonyx in cross-licensing agreement on next-generation memory chips

South Korean chipmaker Hynix Semiconductor Inc. said Monday it has reached a cross-licensing agreement with Ovonyx Inc. of the United States to develop next-generation memory chips.

The deal allows Hynix, the world's second-largest maker of computer memory chips, to use Ovonyx's patents on phase-change memory chips, or PRAM, which many scientists say offer a higher level of performance than flash chips, widely used in digital cameras and other handheld gadgets. Ovonyx owns core patents on the phase-change chips, Hynix said in a statement. "This agreement provides Hynix with the ability to facilitate the next-generation of memory development," said Park Sung-woo, head of Hynix's research and development division.