South Korean chip supplier SK Hynix to invest USD608B in new semiconductor plant
Date
7/28/2024 5:16:13 AM
(MENAFN) South Korean chip supplier SK Hynix announced on Friday its plans to invest approximately 9.4 trillion won (USD6.8 billion) in constructing a new Semiconductor manufacturing plant in the country. The company aims to begin the construction of the first fabrication plant (fab) in the Yongin cluster, South Korea’s emerging chip hub, in March 2025, with completion slated for May 2027.
The Yongin Semiconductor Cluster, approved in March 2021, represents South Korea’s first major cluster of semiconductor businesses and is considered a cornerstone of the nation's semiconductor industry. This development is expected to significantly boost the production capacity of South Korea's semiconductor sector, which is crucial to the country's economy and exports, while also contributing to the stabilization of the global supply chain, according to Invest Korea.
SK Hynix detailed that the Yongin Cluster will span a 4.15 million square meter site in Wonsam-myeon, Yongin, Gyeonggi Province, with current efforts focused on site preparation and infrastructure construction. The company plans to build a total of four fabs dedicated to producing next-generation semiconductors and a semiconductor cooperation complex that will house over 50 small local companies. The aim is to transform the Yongin Cluster into a "Global AI semiconductor production base."
SK Hynix, known for supplying 5th generation high-bandwidth memory chips to American chipmaker Nvidia, reported strong financial results for the second quarter of this year. The company announced revenues of 16.4233 trillion won, an operating profit of 5.4685 trillion won, and a net profit of 4.12 trillion won.
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