SK Hynix has announced plans to invest 80 trillion won (approximately US$51.46 billion) to construct a new factory dedicated to NAND memory chip production.
The South Korean semiconductor giant stated that the facility is scheduled to be operational by 2029, a move designed to alleviate supply constraints stemming from the ongoing artificial intelligence boom.
This development follows SK Hynix's recent confirmation of plans to raise up to $29.
The investment underscores the intensifying competition in the memory chip sector, where demand for high-bandwidth and storage solutions continues to outpace existing capacity.
By committing to such a significant capital expenditure, SK Hynix signals its intent to solidify its market position against rivals like Samsung and Micron, who are also expanding their production capabilities to meet the surging requirements of data centers and AI infrastructure.
This development follows SK Hynix's recent confirmation of plans to raise up to $29.4 billion through a listing of American depositary receipts on the Nasdaq.
The company will issue 17.79 million new shares in what is expected to be one of the largest listings in the region, providing additional capital to support its aggressive expansion strategy and global footprint.