South Korean semiconductor company SK Hynix Inc. and Nvidia's supplier announced on Friday that it will build a semiconductor factory valued at 9.4 trillion Korean won or $6.8 billion in the Yongin Semiconductor Cluster.
The company will start building its first fabrication facility in March 2025, aiming to finish by May 2027 to boost AI memory chip production and future growth.
"The Yongin Cluster will be the foundation for SK Hynix's mid-to long-term growth and a place for innovation and co-prosperity that we are creating with our partners […] We want to contribute to revitalizing the national economy by successfully completing the large-scale industrial complex and dramatically enhancing Korea's semiconductor technology and ecosystem competitiveness," Vice President and Head of Manufacturing Technology at SK Hynix Kim Young-sik said.
