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On July 2 (it's a bit more natural to state the specific day upfront in this context), SK Hynix made an announcement on Thursday, revealing its plan to invest a staggering 80 trillion won (roughly equivalent to $51.46 billion) in constructing a brand-new NAND flash memory chip factory. This move is aimed at addressing the memory chip shortage that has been brought about by the AI craze. The new factory is slated to start production in 2029. At a high-profile event graced by the company's CEO and South Korean President Lee Jae-myung, SK Hynix disclosed that the construction of the new factory, named M17, will kick off next year in Cheongju, South Korea. Moreover, the company has further plans to allocate an additional 20 trillion won towards building a chip packaging factory in Cheongju. This packaging factory is anticipated to be fully completed by the end of 2027.
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