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Chungbuk-do is to set up the nation's best Nand Flash cluster with KRW 35 tn investment from SK Hynix

SK Hynix announced that it will invest KRW 35 trillion for the next 10 years in Cheongju, Chungbuk province. The provincial government welcomed the decision expecting a creation of the best Nand Flash Cluster in the country.

The provincial government plans to operate a joint Task Force (TF), chaired by its vice governor for Political Affairs, to ensure early investment .

The vice governor for Political Affairs held a press conference at the briefing room on February 21, saying that "SK Hynix'z Nand Flash production complex in Cheongju is the largest investment attraction".

He told that "Chungbuk-do has continued to meet the company's investment conditions, and the local people also asked for balanced development," emphasizing that "it's an accomplishment that we made during the process of SK Hynix's negotiations on investment in Yongin".

He also set forth a blue print for development of the semiconductor industry, saying that "we will foster Chungbuk as a comprehensive platform for the semiconductor industry which is standing at the forefront of the 4th Industrial Revolution".

He promised that "we will actively provide support for infrastructure, such as electricity, water, and road required for the semiconductor industry".

SK Hynix decided to invest KRW 35 trillion in Chengju complex over 10 years, including expansion of production capabilities of M15, which has been operating since last year.

It is expected to sign MOU on land purchase for the establishment of new factory in Chengju with Chungbuk-do government and Cheongju-si government in the coming month.

Source Text

Source: Newsis (February 21, 2019)

** This article was translated from Korean.