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Semiconductors

SK Hynix to expand chip fab instead of building new factory

South Korean chipmaker reduces cost of preparing for memory market rebound

SK Hynix is investing to expand capacity despite a lull in the memory market. (Photo courtesy of SK Hynix)

SEOUL -- SK Hynix will spend 15 trillion won ($10.9 billion) over five years to expand an existing semiconductor plant, the South Korean chipmaker said Tuesday, the move coming after the company shelved plans to build a separate factory due to costs.

The chipmaker will add 60,000 square meters to the M15 fabrication facility at the Cheongju campus. Construction starts in October, with completion expected in 2025. The fab, which mainly produces NAND flash memory products, intends to expand output by that date.

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