Wang Quan, the mayor of Wuxi, Jiangsu province, met with a business delegation headed by Park Sung-wook, the CEO of South Korea's memory chip giant SK Hynix on Feb 3 to discuss further cooperation and the development of SK Hynix's venture in the city, the Wuxi Daily reported.

Wang briefed the visitors about the economic and social development of the city in 2014. He expressed his hope that the South Korean company could continue to increase investment in Wuxi. He also pledged to provide necessary assistance for the company's expansion in the city.

SK Hynix recorded substantial sales growth in 2014, with its profitability ranking third in South Korea, said Park. He also praised the performance of its venture in Wuxi and hoped the company would make more contribution to the economic development of the city.

SK Hynix Semiconductor Company (China), located in the Wuxi New District, is the first foreign-investor whose total investment exceeds $10 billion in the province. It has enjoyed fast development in production capacity, technology and profitability. Its sales revenue reached $2.05 billion in 2014.