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South Korea-based memory maker SK Hynix announced Tuesday it will invest 19 trillion Korean won ($12.9 billion) to build a new advanced packaging plant, as it expands production to meet rising demands tied to artificial intelligence.
The new facility will be located in the Korean city of Cheongju, building on the company’s existing footprint there. Construction is set to begin in April, with completion targeted for the end of 2027, the firm said in a statement.
The plant will focus on advanced packaging, which involves combining multiple memory chips into a single, high-density unit to improve performance and energy efficiency while reducing overall size.
SK Hynix is among the world’s largest producers of memory chips and leads in so-called high-bandwidth memory (HBM), which is used in artificial intelligence processors, including those designed by U.S. chipmaker Nvidia
