The state of the world’s third memory-maker can now be described as “between Samsung and Micron”. It is clear that the company is not profitable at the moment and is not going to become in the nearest future. Moreover, Deutsche Bank, who consults the debtors of Hynix, asked them to write off a part of their credit and then wait about two years as the company will be able to pay-back the remaining sum.

Last week Deutsche Bank offered the creditors to write off $1.54 billion, 30.8% of Hynix’s debt and allow the company to delay the remaining payments by two year. Needless to say that Korea Exchange Bank and other big debtors express concerns about this decision as it will cause additional losses for them as well as delay the time they will get back the credits they provided. In fact, the worries of the former investors can be understood easily, as they were waiting through the lifetime of Hynix for the company to be able to make the payments. Though, the company has never managed to.

Meanwhile, the problems of Hynix are not only the problems of a single company, but a really tough situation for the South Korea. The Government has been trying to tackle it for innumerable number of month and has not succeeded in it. Today I discovered here that the Government let Hynix know that they want them to sell all their assets before elections for the president to be held in December. Soon after the announcement was made, different rumours started to appear about the future owner of the memory manufacturer.

The current owners of the world’s third largest DRAM maker were again considering the possibility to ask Samsung to run the company. However, the number one memory supplier refused to take the ruining Hynix in the past. As additional funds will be needed on the restructuring, Samsung says it is not ready to inject them right now, moreover, the company may be frighten a bit, since Hynix owes too lot of money. An official from the Ministry of Commerce, Industry and Energy said that Samsung may change its mind once part of the debt is written off and other terms are regulated propitiously enough. It is not only business related decision, he added.

It is also quite likely that the board of directors may return to the negotiations with the USA based Micron Technology after cancelling the deal earlier this year.

None of the official sources commented on the possible selling Hynix, however, right now it was made clear that the Government does not want the banks to continue loosing money. In that case they are likely to force Hynix to be sold to Micron in order to inject a large amount of cash in the country. However, the perspective of having a company that controls more than a half of the world’s memory market is also very bright in the long-terms, so, they may help both Korean DRAM makers to come to an agreement.