SK hynix to invest over $60 billion in chip plants in South Korea, but the memory crisis still seems a long way from being over

The SK Hynix Semiconductor Inc. logo is displayed at the company's plant during a media tour organized by Korea Industrial Complex Corp. (KICOX) in Cheongju, South Korea, on Friday, Nov. 23, 2012. KICOX, which develops and manages industrial complexes and support for resident enterprises as a public company under South Korea's Ministry of Knowledge Economy, held a media tour to the plant.

SK hynix, one of the three biggest memory manufacturers (along with Samsung and Micron), seems to be investing a lot of money into AI, and the South Korean government is happy to see that renewed investment. This time, it's to the tune of 100 trillion won (or $65 billion as of the time of writing).

As reported by Reuters, SK hynix is looking to build new chip plants with that funding, one of which will be for storage chips. 80 trillion won (around $52 billion) will be spent on NAND flash memory production, and 20 trillion won (around $13 billion) will be spent on a chip packaging plant that is estimated to be operational by late 2027.