SK Hynix Approves $38B for New Memory Fabs, No Output Until Late 2028

Published Aug 15, 05:46 PM UTC

SK Hynix's board approved 54.3 trillion won ($38 billion) for two new memory fabrication plants: the Y2 fab in Yongin for HBM and next-gen DRAM, and the M17 facility in Cheongju for NAND flash. Construction timelines are extended, with M17's first cleanroom opening in December 2028 and Y2's in June 2029, meaning no chip production from these plants until at least late 2028. The investment comes amid surging memory demand driven by AI, with SK Hynix reporting record Q2 revenue of 79.3 trillion won (up 257% year-over-year) and an operating margin of 76%. The company noted that customer demand already exceeds its supply capabilities, and new capacity before 2029 will come only from earlier projects.