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SK hynix to select chip packaging plant site in US early next year

SK hynix to select chip packaging plant site in US early next year

Seoul,  Chipmaker SK hynix is aiming to select a site for a semiconductor packaging plant in the US as early as in the first half of next year.

Reports earlier surfaced that the world's second-largest memory chip maker aims to invest billions of dollars to build an advanced chip manufacturing factory in the US with a goal to start operation by 2025-26.

"While the company aims to select a site sometime in the first half of next year, nothing concrete has been determined yet," an SK hynix spokesperson said.

The plan comes less than a month after Chey Tae-won, chairman of South Korea's SK Group, unveiled an additional $22 billion investment plan in the US when he visited the White House late last month, reports Yonhap news agency.

"SK will invest nearly $30 billion in the U.S. going forward, expanding on our recent announcement of $7 billion investment in electric vehicle batteries," Chey said at that time.

Details of the investment included $15 billion spending on boosting the semiconductor ecosystem, including research and development programs, materials, advanced packaging and test facilities.

SK hynix, South Korea's second-largest chipmaker, earlier this month wrapped up a 576 billion won ($492 million) acquisition of local chip contract manufacturer Key Foundry.

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