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SK Hynix, Nvidia’s prominent supplier, is investing $6.8 billion in a new chip plant in South Korea to support AI chip production.
SK Hynix to Expand Chip Production
The second-largest memory chip manufacturer in the world, SK Hynix, announced on Friday that it will invest approximately $9.4 trillion won ($6.8 billion) in its first chip plant in the city of Yongin, South Korea.
According to Reuters, the Nvidia supplier has been preparing to build four new chip facilities at a semiconductor cluster near Seoul since 2019. On Thursday, they posted their greatest earnings since 2018 and pointed to increased demand for AI chips.
Yongin Cluster Key to Future Growth
"The Yongin cluster will be the foundation for SK Hynix's mid- to long-term growth," stated Kim Young-sik, the company's head of manufacturing technology.
SK Hynix stated in a regulatory filing that the investment is intended to meet the demand for artificial intelligence semiconductors and to ensure the company's continued growth.
More than fifty small local companies in the chip industry will eventually be housed on the enormous 4.2 million square meter property, according to a statement released by SK Hynix. The business plans to construct four chip facilities that will produce next-generation semiconductors.
The figures released on Friday should cover the first plant's operations until the end of 2028, including utilities like water and electricity, as well as business support and welfare facilities, per CNA.
SK Hynix to Incorporate Mini-Fab Facility
The company announced that it will incorporate a "mini-fab"—a research facility capable of processing 300 mm silicon wafers—to provide a realistic testing environment for domestic chip materials and equipment suppliers.
In April, the business announced plans to invest $3.87 billion in an innovative packaging plant and an artificial intelligence product R&D center in Indiana, USA. This news follows those initiatives.
