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Deep TechFlow news: On July 02, SK Hynix said on Thursday that the company plans to invest 80 trillion won (approximately $51.46 billion) to build a new NAND flash memory chip factory. The new facility is expected to begin operations in 2029 to address a shortage of storage chips driven by the AI boom.
According to a plan announced at an event attended by the company’s CEO and South Korean President Lee Jae-myung, the company’s CEO said SK Hynix plans to start construction of the new factory, M17, in Cheongju, South Korea, next year. In addition, the chipmaker also plans to invest an additional 20 trillion won to build a new chip packaging factory in Cheongju, which is expected to be completed by the end of 2027. (Jinshi)