SEOUL - SOUTH Korea's Hynix Semiconductor said Sunday it has developed what it calls the fastest data-processing one-gigabit memory chip for cellphones and other mobile applications.

Hynix, the world's number-two chipmaker, said the new chip can process data at 800 megabits per second, which it said outstrips existing chips on the market.

'It is designed to meet the needs of a wide range of moible applications which demand high memory density and fast operating speed features,' it said.