SK Hynix Plans Additional $14.6 Billion AI Chip Investment in South Korea
By Kwanwoo Jun
SK Hynix plans to invest an additional $14.6 billion to expand its semiconductor production capacity in South Korea to meet growing demand for artificial-intelligence chips.
The South Korean memory-chip maker said Wednesday that it will spend more than 20 trillion won ($14.56 billion) to expand the facilities of its DRAM chip factory in Cheongju, southwest of Seoul.
Under the new long-term spending plan, SK Hynix said it will first complete the KRW5.3-trillion construction of chip fabrication facilities in Cheongju by November 2025.
The plant expansion aims to boost the production of high bandwidth memory and other advanced AI chips, it said.
The company's new investment plan is on top of a separate plan to invest KRW120 trillion to create a new chip production cluster in Yongin, north of Cheongju.
SK Hynix also plans to build $3.87 billion AI-chip packaging facilities in the U.S.
Write to Kwanwoo Jun at kwanwoo.jun@wsj.com
(END) Dow Jones Newswires
April 24, 2024 06:22 ET (10:22 GMT)
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