SK Hynix plans to invest 80 trillion KRW to build new NAND production lines by 2029

According to Golden Ten Data on July 2, SK Hynix announced on Thursday that the company plans to invest 80 trillion won (approximately $51.46 billion) to build a new NAND flash memory chip plant. The new factory is expected to start operations in 2029 to address the memory chip shortage driven by the AI boom. According to plans announced at an event attended by the company CEO and South Korean President Lee Jae-myung, the SK Hynix CEO stated that construction of the new M17 plant in Cheongju, South Korea, is scheduled to begin next year. In addition, the chip manufacturer also plans to invest another 20 trillion won to build a new chip packaging plant in Cheongju, which is expected to be completed by the end of 2027.