SK Hynix Breaks Ground on $4 Billion US Advanced Packaging Plant
SK Hynix held a groundbreaking ceremony on Thursday for its advanced memory packaging plant in Indiana, its first high-bandwidth memory (HBM) production hub in the US. The over $4 billion project, announced in April 2024, will create about 1,000 jobs and start mass production in the second half of 2029. Separately, SK Group plans to sell a 49% stake in its Ulsan AI data center to investors including KKR.
SK Hynix held a groundbreaking ceremony on Thursday for its advanced memory packaging plant in Indiana, marking the group's first high-bandwidth memory (HBM) production center in the United States. The project, with an investment exceeding $4 billion, was announced in April 2024. Located in West Lafayette, the plant will create approximately 1,000 jobs upon completion, with mass production scheduled to begin in the second half of 2029. The project is supported by the US CHIPS and Science Act, and the group plans to expand its investment and cooperation in the United States.
Separately, SK Group, the parent company of SK Hynix, plans to sell a 49% stake in its artificial intelligence data center in Ulsan, South Korea, to private equity firms. US private equity fund KKR will acquire a 29% stake, while a consortium of IMM Investment and Stonebridge Capital will purchase a 20% stake. The transaction is valued at approximately 3 trillion won, including about 1.2 trillion won in fundraising.