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© SK hynix General | July 22, 2022

SK Hynix is hitting the brakes on factory expansion

South Korean memory maker SK Hynix is reportedly withholding a factory capacity expansion plan.

According to a Yonhap news report, SK Hynix has been working on expanding its memory capacity in Chengjou, located 140 kilometers south of Seoul.

The company was set to start construction of the plant, named M17, at the beginning of next year, with completion set for early 2025, but is reportedly withholding the operation.

The news agency says SK Hynix's decision is due to growing global economic uncertainty, citing sources familiar with the matter. The company commented that ”no decision has been made on the matter”.

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August 09 2022 1:05 am V20.7.2-1