SK hynix announced on the 6th that it will build a new semiconductor production plant M15X (eXtension) in Cheongju, Chungbuk, South Korea.

SK hynix plans to start the construction of M15X on a site of about 60,000 square meters in Cheongju, South Korea in October this year, and aims to complete the construction in early 2025. The company plans to invest a total of 15 trillion won to build the M15X factory and introduce production equipment in the next five years.

The M15X will be similar in size to the two existing Cheongju M11 and M12 factories combined. In addition, SK hynix will decide the start time of the new M17 factory plan in the vicinity in consideration of the business environment such as semiconductor market conditions.

"Looking back at the past 10 years, we have grown into an international enterprise because of the decisive investment in the future during the crisis. Now to deal with the next 10 years, the construction of M15X will be the first step for the company to lay the foundation for future growth. ” said Park Jung-ho, vice chairman of SK hynix.

Demand for memory semiconductors is dwindling sharply in the near term due to a depressed world economy and unstable supply chains. However, due to the shortening trend of the change cycle of the memory semiconductor market, experts predict that the market will gradually recover from 2024 and start to recover in 2025. SK hynix expects the M15X to play an important role in the upcoming boom.