SK Hynix to invest $38 billion to expand AI memory chip production in South Korea
SK Hynix Inc. plans a 54 trillion won ($38 billion) expansion of its chipmaking facilities in South Korea, adding to efforts to rapidly double its production capacity and ease a global shortage of memory chips.
SK Hynix, the world's second-largest memory chip maker, has announced a $38 billion expansion of its production facilities in South Korea. The company plans to build a new dynamic memory facility in Yongin and a NAND fabrication plant in Cheongju, aiming to address the global shortage of memory chips and meet the growing demand for AI-related memory.
This investment is part of a broader effort to double SK Hynix's production capacity by 2031, as well as to bolster South Korea's domestic manufacturing capabilities in response to the artificial intelligence boom. The company's shares initially dropped 4.9% following the announcement but later recovered slightly.
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