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.
Written by urgent.news from Live Mint's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 3 other outlets
- SK hynix Invests $40 Billion in New AI Memory Fabs in Korea koreaittimes.com
- Analysis: South Korea and Taiwan each surpassed Japan in total exports for the first time in H1 2026, as AI demand drove explosive growth in chip exports (Nikkei Asia) asia.nikkei.com
- South Korea's AI-driven chip industry boom is reordering the country's society, changing expectations around fairness, careers, and even culture and dating (Bloomberg) bloomberg.com
