Anamika Dey, editor
Brief news
- SK Hynix plans to invest $6.8 billion in the construction of a new semiconductor manufacturing facility in South Korea’s Yongin Semiconductor Cluster.
- The facility is scheduled to be completed in May 2027 and is part of SK Hynix’s commitment to construct four fabs in the cluster.
- SK Hynix aims to preserve South Korea’s leadership in memory chips, which are crucial for artificial intelligence applications, and reported a high-profit level in the second quarter.
Detailed news
On Friday, SK Hynix, a memory chip behemoth, announced its intention to invest 9.4 trillion Korean won ($6.8 billion) in the construction of a new semiconductor manufacturing facility in an emerging chip hub in South Korea.
The fabrication facility, or fab, will be constructed in the Yongin Semiconductor Cluster of South Korea, which is situated just south of the country’s capital, Seoul. The government is currently in the process of constructing a vast complex of chip operations.
The construction of SK Hynix’s inaugural manufacturing facility in the cluster is scheduled to commence in March of the following year and be completed in May of 2027.
SK Hynix, a company based in South Korea, is among the top three manufacturers of memory chips worldwide. These chips are utilized in a variety of devices, including servers and laptops. In recent years, the organization has achieved success with its high-bandwidth memory, which it supplies to Nvidia.
SK Hynix made a 120 trillion won commitment earlier this year to construct four fabs in the Yongin cluster. The remaining three will be established at a later time.
Both SK Hynix and the South Korean government are striving to preserve the nation’s leadership in the field of memory, which is crucial for artificial intelligence applications. This is exemplified by the aggressive investment. Seoul has allocated billions of dollars to its semiconductor initiatives, which are increasingly perceived as strategic by governments.
Samsung, the world’s largest memory device manufacturer, is also located in South Korea.
This week, SK Hynix reported that its second-quarter profit reached its highest level in six years, as a result of its partnership with Nvidia and the AI surge.
Source : CNBC News
