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.