Samsung and SK Hynix Unveil $590 Billion Chip Manufacturing Initiative

WHO:

Financial Times - South Korea, Samsung, SK Hynix

WHAT:

Financial Times - Samsung and SK Hynix plan to invest approximately $590 billion to build a new chip complex.

Bloomberg Markets - The project includes the construction of four chipmaking plants and a chip packaging cluster.

WHERE:

Bloomberg Markets - The semiconductor plant is located in Pyeongtaek, South Korea.

WHY:

Financial Times - The investment aims to meet the surging demand for memory chips.

HOW:

Financial Times - The companies will invest alongside the South Korean government in the factories.

(UPDATED June 29, 2026 08:37 UTC)

Samsung and SK Hynix are set to invest approximately $590 billion to build a new chip complex in Pyeongtaek, South Korea, which will include four chipmaking plants and a chip packaging cluster. This massive investment aims to address the surging demand for memory chips, with both companies partnering with the South Korean government on the project. The new facilities are expected to significantly boost the country's semiconductor production capacity.