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Byline: Gina Chon
SEOUL -- China's Beijing Orient Electronics Technology Group Co. is nearing a final agreement to establish a joint venture with South Korea's Hynix Semiconductor Inc. and Semicon Engineering Co.
The three companies are negotiating final details for Hynix to sell its operations in small-sized liquid-crystal displays used in mobile phones and other devices, Beijing Orient said in a statement Nov. 21.
Under the $60 million deal, Beijing Orient would own 45% of the joint venture, Semicon would own 35% and Hynix would own 15%. The rest would be owned by the joint venture's employees.Beijing Orient would own 45% of the joint venture, …