According to reports, semiconductor wafer supplier SK Siltron announced plans to invest about $1.6 billion in the five years to 2026 to increase the capacity of its fab in Gumi, North Gyeongsang Province.

As part of the plan, SK Siltron's board of directors also approved an 855 billion won spending plan on the 29th to expand production capacity for 300mm wafers. The company will also consider an additional 400 billion won in spending based on market conditions.

The report noted that the decision came after SK Siltron predicted that the memory chip industry would rebound in the near future after a brief downward cycle.