South Korean memory chipmaker SK Hynix has approved investments worth about 54.3 trillion won ($38.3 billion) through 2031 to expand its semiconductor manufacturing capacity, as the company ramps up production of advanced memory chips to meet growing demand driven by artificial intelligence (AI), according to Reuters.
The company said its board has approved 35.2 trillion won for the second phase of construction at its semiconductor fabrication complex in Yongin and 19.1 trillion won for the M17 chip plant in Cheongju.
