SK Hynix board approves $38 billion investments for South Korea's Yongin, Cheongju chip plants

SEOUL, Aug 7 : South Korea's SK Hynix said on Friday that its board had approved about 54.3 trillion won ($38.30 billion) of investments through 2031, including 35.2 trillion won for the second phase of construction of its chip fabrication plant in Yongin and 19.1 trillion won for its M17 chip plant in Cheongju.In June, SK Hynix said it planned to invest 600 trillion won in the Yongin semiconductor cluster and 100 trillion won to expand its production base in Cheongju, adding at the time that detailed investment plans and schedules would be disclosed after receiving board approval.The company said Yongin's "Y2 fab" is the second of four fabrication plants planned for the cluster and will serve as a production base for dynamic random access memory (DRAM) chips. DRAM, which temporarily store