According to Yonhap News Agency, SK Hynix recently stated that the company is considering doubling its foundry production capacity through domestic plant expansion and M&A.

Prior to this, SK Hynix's foundry business was mainly carried out in its Chinese subsidiary, and left extra space for foundry equipment in Cheongju, South Korea.

SK Hynix said that it will first invest in the 8-inch wafer foundry business to solve the global chip shortage problem, and at the same time, it will help Korean local IC design companies to expand overseas.

The report pointed out that SK Hynix will announce a merger plan in the future to expand its business in the field of system semiconductors.

SK Hynix also plans to build four more chip fabs in a semiconductor cluster in Yongin City, south of Seoul. The company said that the first new fab is expected to start construction in 2024, and mass production may be as early as 2025.