To be constructed on 60,000m2 land in the Cheongju Technopolis industrial complex, the M15X Fab is expected to be completed in early 2025 and will enable the company to be ready to deliver more memory chips when the industry witnesses a boom again
SK hynix is a South Korean semiconductor company. (Credit: SK HYNIX INC.)
SK hynix revealed plans to build a new semiconductor fabrication plant in the South Korean city Cheongju with an investment of KRW15 trillion ($11bn), which will be made over the next five years.
Dubbed M15X(eXtension), the new chip factory in North Chungcheong Province will be built from next month.
SK hynix will begin construction of the M15 extension on the site it had previously secured. The South Korean semiconductor company said that the fab is being taken up earlier than originally planned due to various market situations.
To be built on 60,000m2 land in the Cheongju Technopolis industrial complex, the M15X Fab is expected to be completed in early 2025.
The new semiconductor fabrication plant in South Korea will be a two-story building equivalent to a mix of M11 and M12 in size, said SK hynix.
According to the company, by constructing the M15X fab, it will be prepared to deliver more memory chips when the industry witnesses a boom again.
The Korean firm also disclosed that for the next M17 fab, it will decide construction plan after studying overall business environment, which includes changes in the business cycle of semiconductors.
SK Hynix vice chairman and co-chief executive Park Jung-ho said: “Looking back on the past 10 years, SK hynix could grow into a global company as it boldly carried out investment during crisis.
“As we look to prepare for the next 10 years now, I believe starting the M15X will be a first step to lay foundation for a solid future growth.”
Last month, it was reported by Reuters that the Korean semiconductor firm has plans to start construction on a new chip packaging plant in the US during Q1 2023.