[SK hynix]
SEOUL -- In an investment based on its rosy business outlook, SK hynix will spend some 3.5 trillion won ($3.1 billion) on building a new semiconductor fabrication plant at its home base to boost the production of memory chips.
Construction of the new plant in Icheon about 50 kilometers (31 miles) southeast of Seoul, would be completed in October 2020, the company said in a statement on Friday, adding the investment was aimed at coping with an increasing demand for memory chips. The type of products would be determined later depending on market environments.
The company's net profit soared to a quarterly record high of 4.3 trillion won in the second quarter from 2.4 trillion won a year earlier. Operating profit jumped 83 percent on-year to 5.5 trillion won and sales were up 55 percent to 10.3 trillion won. SK hynix attributed its good performance to strong demand for dynamic random-access memory (DRAM) and NAND flash products.
SK hynix vowed to step up microchip production in the second half of this year, saying U.S. and Chinese data-center companies would increase their investment in servers.
reporter
Lim Chang-won
cwlim34@ajunews.com
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