SK Hynix pledges ₩100T investment to build Cheongju chip complex
SK Hynix, one of South Korea's top chip makers, just announced a huge 100 trillion won ($64.38 billion) investment to build new semiconductor factories in Cheongju.
The plan includes a massive NAND memory chip factory and a chip packaging plant, both aimed at keeping up with the world's growing demand for tech, especially AI.
This move is part of an even bigger push alongside Samsung to make South Korea a global chip powerhouse.
SK Hynix earmarks ₩80T for memory
Most of the money (80 trillion won) goes to the memory chip factory by 2029, and 20 trillion won will set up the packaging plant by 2027.
The government expects this will double South Korea's memory chip output in five years as AI keeps driving demand.
Even though SK Hynix shares took a hit recently over market worries, CEO Kwak Noh-jung said, "While demand for NAND has been increasing and is expected to continue growing in the future, NAND supply is constrained."
Construction on the new factory kicks off next year.