South Korea Unveils Record $597 Billion 2027 Budget to Boost AI and Chips 
MediaTek Shares Jump 10% on Nvidia’s $3.5 Billion Investment 
Trump Says ExxonMobil Among Oil Majors Planning Venezuela Return 
SoftBank Eyes $20 Billion Bond Sale to Refinance OpenAI Loan 
PayPal Shares Sink as $50 Billion Takeover Bid Collapses 
Google Expands Gemini Enterprise With AI Tools for Legal Sector 
HP Stock Drops 9% Despite Q3 Earnings Beat and Raised 2026 Outlook 
OpenAI Rejects Apple Trade Secret Theft Claims 
Salesforce Shares Surge as AI Demand Powers Q2 Earnings Beat 
U.S. Disrupts China-Linked Hacking Campaign Targeting Government Agencies 
U.S. Probes Apex Logistics Over Nvidia AI Chip Shipments to China 
Toyota Global Sales Fall as China Demand Slumps 
Pinterest Stock Falls as CFO Julia Brau Donnelly Resigns 
GM Canada Workers Approve C$1.1 Billion Investment Deal 
Faraday Future Delivers First Robots in Middle East, Plans September Launches 
Add as a preferred source on Google
SK Hynix, Nvidia’s prominent supplier, is investing $6.8 billion in a new chip plant in South Korea to support AI chip production.
SK Hynix to Expand Chip Production
The second-largest memory chip manufacturer in the world, SK Hynix, announced on Friday that it will invest approximately $9.4 trillion won ($6.8 billion) in its first chip plant in the city of Yongin, South Korea.
According to Reuters, the Nvidia supplier has been preparing to build four new chip facilities at a semiconductor cluster near Seoul since 2019. On Thursday, they posted their greatest earnings since 2018 and pointed to increased demand for AI chips.
Yongin Cluster Key to Future Growth
"The Yongin cluster will be the foundation for SK Hynix's mid- to long-term growth," stated Kim Young-sik, the company's head of manufacturing technology.
SK Hynix stated in a regulatory filing that the investment is intended to meet the demand for artificial intelligence semiconductors and to ensure the company's continued growth.
More than fifty small local companies in the chip industry will eventually be housed on the enormous 4.2 million square meter property, according to a statement released by SK Hynix. The business plans to construct four chip facilities that will produce next-generation semiconductors.
The figures released on Friday should cover the first plant's operations until the end of 2028, including utilities like water and electricity, as well as business support and welfare facilities, per CNA.
SK Hynix to Incorporate Mini-Fab Facility
The company announced that it will incorporate a "mini-fab"—a research facility capable of processing 300 mm silicon wafers—to provide a realistic testing environment for domestic chip materials and equipment suppliers.
In April, the business announced plans to invest $3.87 billion in an innovative packaging plant and an artificial intelligence product R&D center in Indiana, USA. This news follows those initiatives.
