Odaily Planet Daily reports that SK Hynix has announced plans to invest $38.4 billion to expand its chip business in South Korea. The company plans to invest 19.1 trillion Korean won ($13.47 billion) in its M17 chip facility in Cheongju, with the investment to be completed by 2031. Additionally, it plans to invest 35.2 trillion Korean won (approximately $24.9 billion) for the construction of its second-phase chip plant in Yongin. (Jinshi)
SK Hynix to Invest $38.4 Billion in Domestic Chip Expansion in South Korea
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Summary
SK Hynix announced a $38.4 billion investment to expand its domestic chip production in South Korea. The company will allocate 19.1 trillion won ($134.7 billion) at its Cheongju M17 facility, with construction set to be completed by 2031. An additional 35.2 trillion won ($249 billion) will be directed toward the second phase of a chip plant in Yongin. This move follows increasing interest in cryptocurrency news, as demand for semiconductor infrastructure continues to rise.
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