By Kwanwoo Jun
SK Hynix plans to invest more than $64 billion to construct new chip-making facilities in Cheongju, central South Korea, in coming years.
The South Korean chip maker on Thursday detailed its planned investments of 100 trillion won, equivalent to $64.48 billion, which are part of its massive 1.1 quadrillion won chip expansion plan announced earlier this week.
The company said it plans to invest 80 trillion won to build a new NAND memory chip factory by 2029 and 20 trillion won to construct a new chip-packaging plant by 2027. Both facilities will be located in Cheongju.
SK Hynix said about 400 trillion won of its total investment commitment would be earmarked for a new chip-making hub in southwestern Korea, while another 600 trillion won would go toward expanding its DRAM production facilities in Yongin, south of Seoul.
Write to Kwanwoo Jun at kwanwoo.jun@wsj.com