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Memory chip giant SK Hynix announced on Friday thatPlanned investment of 9.4 trillion won (about 6.8 billion U.S. dollars)Construction of a new semiconductor manufacturing plant in the Yongin Semiconductor Cluster, an emerging chip manufacturing hub in South Korea.

The new plant will be located in the Yongin semiconductor cluster south of Seoul, part of a large chip manufacturing complex planned by the South Korean government.This will be SK Hynix's first manufacturing plant in the cluster, with construction expected to begin in March next year and scheduled to be completed in May 2027.

SK Hynix has been planning this project since 2019. Earlier this year, the company pledged to invest 120 trillion won (about $100 billion) to build four wafer fabs in the Yongin cluster. The one announced today will be the first of the four factories, with the remaining three to be started up in subsequent stages.

SK Hynix said the new plant will include a "micro-fab"Namely, a research facility that can process 300mm silicon wafers.This will enable domestic chip material and equipment manufacturers to test their products in real-world environments.

In addition, in April this year, SK Hynix also announced a plan to invest approximately US$3.87 billion in Indiana, USA, to build advanced packaging plants and artificial intelligence product R&D facilities.

In a regulatory filing, SK Hynix said the investment is aimed at meeting demand for AI semiconductors and securing future growth. “The Yongin industrial cluster will serve as the foundation for SK Hynix’s mid- to long-term growth,” said Kim Young-sik, the company’s head of manufacturing technology.

The Yongin cluster, covering 4.2 million square meters, will eventually house four chip factories producing next-generation semiconductors, as well as more than 50 smaller companies in the local chip industry, according to the statement.

As one of the world's top three memory chip manufacturers, SK Hynix's products are widely used in laptops, servers and other devices. It has made breakthroughs in the field of high-bandwidth memory and has become a supplier to leading companies such as NVIDIA.SK Hynix has successfully seized the opportunity of artificial intelligence development in recent years through its cooperation with Nvidia. This week, SK Hynix announced that its second-quarter profit reached its highest level in six years and said that demand for artificial intelligence chips is rising.

South Korea has a significant advantage in the semiconductor industry. It is not only home to SK Hynix, but also the headquarters of Samsung, the world's largest memory chip manufacturer. SK Hynix's ambitious investment strategy not only reflects the company's relentless pursuit of technological innovation, but also demonstrates the South Korean government's strategic support for the semiconductor field. With the development of emerging technologies such as artificial intelligence, Seoul has invested huge funds to support the exploration of the semiconductor field, which is increasingly regarded as a strategic technology by the government.