Yulchon advised SK Hynix on establishing Gauss Labs Inc., SK Group’s newly formed artificial intelligence company
2020.09.22.
Yulchon successfully advised SK Hynix on its establishment of Gauss Labs Inc., SK Group’s newly formed artificial intelligence (AI) company.
Gauss Labs aims to develop innovative semiconductor manufacturing processes by utilizing AI-based solutions. The company’s goal at this initial stage is to develop an AI-based solution by utilizing large volumes of data generated at SK Hynix’s manufacturing sites to maximize manufacturing yield. This project is the first time SK Group has ever formed a stand-alone entity that will specialize in the AI field.
Yulchon took the lead in developing the corporate structure of this project, incorporating the company in the State of Delaware and establishing its branch office in Korea. By taking into account the specific nature and needs of an AI-specialized company and reviewing various relevant legal aspects including general corporate, tax and intellectual property laws, Yulchon successfully completed the company’s formation by collaborating with its U.S. co-counsel.
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