SK Hynix to spend $107b on four new plants

  • News Digest

Feb 22, 2019-

SEOUL: South Korea’s SK Hynix Inc on Thursday said it would spend $107 billion building four factories, as the memory chip maker seeks to maintain its competitiveness in the face of Chinese efforts to become a leading chipmaking nation. The chip fabrication plants will be built on a 4.5 million square meter site south of Seoul beginning 2022, complementing two existing domestic factories that will receive a separate 55 trillion won ($49 billion) investment over the next decade. The plans for the factories, producing DRAM and next-generation chips, come as chipmakers prepare for a surge in demand to power new technology such as fifth-generation (5G) communication networks and artificial intelligence, even as a slowdown in smartphone sales kills off a two-year chip boom. (REUTERS)

Published: 22-02-2019 11:18

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