Memory chip manufacturer SK Hynix revealed Wednesday its intention to spend 21.6 trillion won, equivalent to $15.07 billion, on constructing additional semiconductor manufacturing facilities in Yongin, South Korea, with completion targeted for 2030.
The massive investment represents the company’s response to increasing worldwide demand for computer chips and semiconductors used in everything from smartphones to automobiles.
The new production lines will be established in the South Korean city of Yongin as part of the company’s expansion strategy over the next six years.
