SK Hynix Invests $38 Billion to Double Chip Production

South Korean memory chip maker SK Hynix Inc. has announced a 54 trillion won ($38 billion) expansion program aimed at doubling its production capacity and addressing the global memory chip shortage. The company will build a new DRAM memory chip factory in Yongin and a NAND flash memory manufacturing facility in Cheongju. The new Yongin Y2 plant will be the second of four planned facilities in the Yongin semiconductor cluster. Construction is set to begin in July next year, with the launch of the first clean room for high-bandwidth memory (HBM) and other next-generation DRAM scheduled for June 2029. The expansion of the Cheongju M17 plant will start in February, with the clean room expected to be operational by the end of 2028. The overall investment period is projected to last until April 2031. South Korea plans to double its national memory production capacity within five years. SK Hynix's shares on the Seoul stock exchange fell by 4.9% but partially recovered after reports of a new capital return plan for shareholders in the third quarter. The company is also investing $31 billion in capital expenditures for 2026, which is 50% higher than last year's investments.

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