SK Hynix to Spend $38.3 Billion Building Two New Chip Factories in South Korea

SK Hynix's board approved $38.3 billion through 2031 for two chip factories in Yongin and Cheongju, South Korea. The company said AI data center demand is driving explosive growth in memory chips — the components that store data in computers and phones. The Yongin site gets $24.9 billion; Cheongju receives $13.2 billion. First production targets June 2029.