SK Hynix plans a $38B chipmaking expansion in South Korea, including a new ~$24.7B DRAM facility in Yongin and a ~$13.3B NAND fabrication plant in Cheongju (Yoolim Lee/Bloomberg)

SK Hynix is planning a $38 billion expansion of its chipmaking facilities in South Korea. The expansion includes a new DRAM facility in Yongin, estimated to cost around $24.7 billion, and a NAND fabrication plant in Cheongju, estimated to cost around $13.3 billion.

The expansion plan was announced by SK Hynix in a statement.

Apple is reportedly facing memory shortages, with around $1 billion in processor wafers awaiting packaging, according to Tom's Hardware. Apple is said to be working with suppliers, including SK Hynix, to secure memory supply ahead of the launch of its iPhone 18.

Brief written by urgent.news from Techmeme, Tom's Hardware — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.