October 25, 2016: China-based Semiconductor Manufacturing International Corp. is seeking to buy South Korea’s only foundry chipmaker Dongbu HiTek Co., industry sources said Monday, a move that is expected to bring changes to the intensely competitive market. “Dongbu HiTek has not held an open bidding (since December), and is seeking a private contract,” an official from the Korea Development Bank said. “The company is currently negotiating with SMIC, which expressed an interest in purchasing the chipmaker.”