SK Hynix will spend 80 trillion won, or roughly $51.46 billion, building a new NAND flash memory factory in Cheongju, South Korea, with production targeted to begin in the first half of 2029.
Chief executive Kwak Noh-jung announced the plan at an event attended by President Lee Jae Myung, folding the new fab, called M17, into a broader push by South Korea’s two memory giants to keep up with demand the industry is struggling to satisfy.
The announcement follows Samsung’s own $647bn domestic investment plan, unveiled days earlier for the same chip-starved corner of the country. The $51.46 billion figure covers the NAND fab alone.
SK Hynix’s total spending commitment, once a separate advanced packaging plant is included, rises to 100 trillion won, or about $64 billion.
The 💜 of EU techThe latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!That second facility, known as P&T7 and also sited in Cheongju, is intended for wafer-level packaging and is targeted for completion by 2027, two years ahead of the main fab. Reuters reported both figures, and Korean outlets corroborated the split between the two projects.
