MEMORY SYSTEM

A memory system includes a memory chip and a memory controller. The memory chip includes a storage region that stores setup data used for setup of the memory chip during power on thereof. The memory controller is configured to determine whether or not the memory controller has the setup data, when determining that the memory controller does not have the setup data, instruct the memory chip to read the setup data from the storage region and perform a first setup operation based on the read setup data, and when determining that the memory controller has the setup data, transmit the setup data to the memory chip and instruct the memory chip to perform a second setup operation based on the setup data received from the memory controller.