SK hynix will "double its wafer production capacity within the next five years," according to SK Group Chairman Chey Tae-won on Tuesday, the first time SK Group has publicly disclosed a concrete target for expanding production capacity.

Chey Tae-won was speaking at the Computex conference in Taipei, where executives from some of the world's top technology companies, including Nvidia, are gathering.

SK Group Chairman Chey Tae-won said during his visit to Taipei on Tuesday that SK hynix Inc. plans to increase its wafer production capacity twofol...