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Entrance of SK Hynix Cheongju Plant 3 (Photo = SK Hynix) |
[Alpha Biz= Reporter Kim Jisun] SK Hynix has finalized financial support from the U.S. government, including a $458 million subsidy and a $500 million low-interest loan.
The U.S. Department of Commerce announced on the 19th that it would provide SK Hynix with a $458 million subsidy under the CHIPS Act's manufacturing facilities support provisions. This decision comes after a Preliminary Memorandum of Terms (PMT) was signed between SK Hynix and the U.S. government in August, followed by a comprehensive review by the Department of Commerce. The company will also receive up to $500 million in low-interest loans.
SK Hynix plans to invest approximately $3.87 billion (around 5.61 trillion won) in West Lafayette, Indiana, to establish an advanced packaging manufacturing and R&D facility. The facility is scheduled to commence operations in the second half of 2028.
The state-of-the-art packaging plant will focus on producing high-bandwidth memory (HBM), a critical component for AI accelerators optimized for AI training and inference. SK Hynix is also forming a partnership with Purdue University to promote industry-academia collaboration. The U.S. government will disburse subsidies incrementally as SK Hynix progresses through project milestones.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
