Seoul 13 Aug : Chipmaker SK hynix intends to select the location for a semiconductor manufacturing plant in the US in the beginning in the first quarter of the next year.There was a report earlier that the world’s second largest memory chip maker is planning to make investments of millions of dollars to construct an advanced chip manufacturing plant in the US with the goal of having it begin operations in 2025-26.
“While the company plans to choose a location in the first quarter of next year but no concrete date has been set at this point,” an SK hynix spokesperson said.
The announcement is less than a month after Chey Tae-won Chairman of South Korea’s SK Group, unveiled an additional $22 billion investment plan in the US when he visited the White House late last month The report comes from the Yonhap news agency.
“SK will invest close to $30 billion in the U.S.going forward, following our announcement of $7 billion of investment in electric battery technology for vehicles,” Chey said at the time.
The details of the investment comprised of $15 billion in spending to boost the semiconductor industry, including studies and development and materials advanced packaging, and testing facilities.
SK Hynix, South Korean’s second-largest manufacturer of chips last month completed 576 billion won ($492 million) acquisition of local chip contract manufacturer Key Foundry.