According to businessKorea, SK Group will invest more than US$600 million to build a new wafer fab in the United States.

The report stated that SK Siltron CSS, a US subsidiary of SK Group, submitted information to the Secretary of Commerce, stating that considering the importance of silicon carbide chips for electric vehicles and the expected growth in demand, it will invest more than US$600 million in the next five years.

SK Siltron CSS stated that it is expected that the "CHIPS for America Act” promoted by the United States will continue to play a role and is looking forward to receiving more support.

The report pointed out that the United States plans to provide up to 40% tax credits for companies investing in semiconductor facilities by 2024 based on the bill. The US government has also formulated a plan to provide 50 billion US dollars to semiconductor infrastructure investment companies.

"We plan to invest an additional US$300 million on the basis of the previously announced investment plan of US$300 million," said a spokesperson for SK Siltron CSS.