SK hynix, the world's second-largest memory chip maker, has announced a significant investment of approximately 9.4 trillion won ($6.77 billion) to establish the first manufacturing plant and business facilities of the Yongin Semiconductor Cluster. The company aims to commence construction of the initial fab in the cluster in March 2023, with a targeted completion date of May 2027. This facility will focus on producing next-generation DRAM, including High Bandwidth Memory, a key technology for AI applications. SK hynix's Vice President Kim Young-sik emphasized that the Yongin Cluster will serve as a cornerstone for the company's long-term growth and innovation, fostering collaboration and mutual prosperity with its partners. The investment will be carried out from August 2024 to the end of 2028, encompassing the design phase for fab construction and the completion of the business support building in the latter half of 2028. The Yongin Cluster, situated in Wonsam-myeon, Yongin, Gyeonggi Province, will cover a vast 4.15 million square meter area and is currently undergoing site preparation and infrastructure development. SK hynix has outlined plans to construct four fabs for next-generation chip production, along with a semiconductor cooperation complex involving over 50 local small businesses. Following the completion of the initial fab, the company intends to sequentially build the remaining three fabs to transform the Yongin Cluster into a global hub for AI semiconductor manufacturing. The investment will encompass various construction expenses essential for the cluster's initial operation, including auxiliary facilities, water treatment bodies, communal areas, and business support buildings, in addition to the first fab. Furthermore, SK hynix will establish a "Mini-fab2" within the first phase to facilitate the development, demonstration, and evaluation of technologies for small businesses.