The memory chip maker and NVIDIA supplier, SK Hynix has announced to invest about 9.4 trillion won ($6.8 billion) in its first chip plant in the South Korean city of Yongin.
For a long time the company has been planning to invest in four new chip plants at a semiconductor cluster at the site near Seoul.
As per the head of manufacturing technology, Kim Young-sik said, "The Yongin cluster will be the foundation for SK Hynix's mid- to long-term growth."
The investment aims to respond to demand for AI semiconductors and secure future growth.
The manufacturing facility will be spread across 4.2 million sq. m. and will house the company's four planned chip plants. The new chip plant will produce next-generation semiconductors.
Friday's figure is expected to cover work on the first plant until end-2028, for utilities such as water and electricity, as well as business support and welfare facilities.
It will include a "mini-fab", or research facility that can process 300-mm silicon wafers, to allow domestic chip materials and equipment makers to test their products in a realistic setting, the company said.
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