This Leading South Korean Chipmaker Eyes US For Advanced Chip Packaging Plant: Report

Anusuya Lahiri

August 12, 2022

South Korea's SK Hynix Inc (OTC: HXSCL) targeted a U.S. site for its advanced chip packaging plant and break ground there around the first quarter of 2023, Reuters reports.
The plant, worth "several billions," would ramp up to mass production by 2025-2026 and employ 1,000 workers.
The plant will likely be near a university with engineering talent.
SK Group, South Korea's second-biggest conglomerate, owner of SK Hynix, announced the new plant in July as part of a $22 billion U.S.-based investment package in semiconductors, green energy, and bioscience projects.
It looked to allocate $15 billion to the semiconductor industry through research and development programs, materials, and the creation of an advanced packaging and testing facility.
The U.S.'s CHIPS and Science Act of 2022 aim to spend $52.7 billion to drive industry resilience against China.
Taiwan Semiconductor Manufacturing Company Ltd (NYSE: TSM), Intel Corp (NASDAQ: INTC), and Samsung Electronics Co, Ltd (OTC: SSNLF) are the front-runners for the U.S. grant as they are amid massive expansion plans in the country.

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