SK hynix postpones Cheongju factory expansion
![A view of the logo of SK hynix at its headquarters in Seongnam, Gyeonggi, in April 2016. [REUTERS]](https://koreajoongangdaily.joins.com/data/photo/2022/07/19/cdd0ddab-b015-40b5-8134-ccd691b6ec95.jpg)
A view of the logo of SK hynix at its headquarters in Seongnam, Gyeonggi, in April 2016. [REUTERS]
SK hynix is postponing its factory expansion plan for Cheongju, local media reported on Tuesday.
SK hynix’s board of directors put the brakes on the plant expansion plan due to global business uncertainty, while SK Group Chairman Chey Tae-won recently mentioned that the existing investment plan could be changed due to growing economic uncertainty such as high exchange rates and inflation.
According to industry sources and local media reports the same day, SK hynix held a board meeting on June 29 to decide on a plan to expand the Cheongju plant, but put the final decision on hold after further discussion.
BY LIM JEONG-WON [lim.jeongwon@joongang.co.kr]
with the Korea JoongAng Daily
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