February 21, 2019
SEOUL (Reuters) – South Korea’s SK Hynix Inc plans to invest 120 trillion won ($106.66 billion) to build four semiconductor fabs after 2022 at a new cluster site in the country, the world’s second-biggest memory chipmaker said on Thursday.
The company has submitted an investment letter of intent and once it is approved, more than 50 foreign and domestic suppliers will join at the new site in Yongin, 40 km south of Seoul, SK Hynix said in a statement.
“We will invest 120 trillion won in the new semiconductor site and fabs over the next 10 years after 2022, at least. It is indeed a long-term investment plan and our strategy may change depending on the market condition,” SK Hynix spokeswoman Olivia Lee told Reuters.
The new fabs will be designated for the company’s next-generation memory and DRAM products, she added.
SK Hynix currently operates two production sites in South Korea and one manufacturing facility at Wuxi, China.
(Reporting by Heekyong Yang and Ju-min Park; Editing by Sherry Jacob-Phillips and Subhranshu Sahu)