July 31, 2024 /SemiMedia/ -- SK Hynix recently announced that it will invest 9.4 trillion won (approximately $6.81 billion) to build a new chip fab in Yongin Semiconductor Cluster, an emerging chip manufacturing center in South Korea.

This will be SK Hynix's first chip fab in the cluster, with construction expected to begin in March next year and scheduled to be completed in May 2027. The new fab will mainly produce next-generation DRAM and HBM products, and will also be prepared to produce other products based on market demand when it is completed.

SK Hynix has been planning this project since 2019. Earlier this year, the company pledged to invest 120 trillion won (approximately $100 billion) to build four wafer fabs in the Yongin cluster.

This announcement will be the first of the four fabs, and the remaining three will be launched in subsequent stages to develop the Yongin cluster into a global artificial intelligence semiconductor production base.