SK's Yongin chip plant to use $314 million of 'regional resources'

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SK's Yongin chip plant to use $314 million of 'regional resources'

Published: 12 Dec. 2024, 17:36

JIN EUN-SOO
[email protected]

Landsite for Yongin chip cluster [YONGIN CITY]

SK hynix agreed to utilize 450 billion won ($314 million) worth of regional resources, such as construction material and human resources, in Yongin, Gyeonggi, when building its first chip manufacturing facilities for the state-backed chip cluster in the area.

The plan is a follow-up measure to an agreement signed by Yongin Mayor Lee Sang-il and SK hynix President Kim Dong-sub back in February, during which the two parties agreed to expedite the construction process regarding site approval and prioritizing regional resources.

SK hynix plans to start the operation of its first chip fabrication facilities for the Yongin chip cluster by the first half of 2027 and start construction in March of next year.

Constructor SK ecoplant agreed to prioritize local companies in the construction, contracting them for materials such as for ready-mixed concrete and asphalt.

It will also prioritize nearby talent when hiring temporary employees for construction, traffic control and cleaning.

BY JIN EUN-SOO [[email protected]]