SEOUL and TOKYO--Hynix Semiconductor Inc. and Toshiba Corporation announced today that they have signed patent cross licensing and product supply agreements covering semiconductor technology. Under the agreements, Hynix and Toshiba will be cross licensed to use one another's semiconductor patents.

The agreements settle all pending patent-related litigation between the companies in the U.S. and Japan, including that before the U.S. International Trade Commission.

Mr. OC Kwon, Senior Vice President, Hynix Semiconductor Inc. said, "We believe the agreements will become a good foundation for our two companies to build a mutually beneficial business relationship in the future."

Mr. Shozo Saito, Corporate Vice President and Executive Vice President of Semiconductor Company, Toshiba Corporation, said, "The signing of the agreements is a positive step for both companies. With litigation behind us, and through these agreements, we can now strengthen our respective businesses."