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SK Group Chairman Delivers on Investment Promise to President Biden

Daniel Kim Views  

Chairman Chey Tae Won of SK Group [Photo: SK Group]

Chairman Chey Tae Won of SK Group emphasized that he kept his investment promise with U.S. President Joe Biden by establishing SK Hynix’s advanced packaging facilities. On the 17th, Chey posted on his LinkedIn, “SK Hynix announced on the 3rd that it will build an advanced packaging (post-processing) facility for HBM (High Bandwidth Memory) DRAM, a key component for running AI apps, in West Lafayette, Indiana.” He added, “The future of advanced technology is being realized in Indiana and Purdue University.”

He added, “SK Hynix’s investment of approximately $3.87 billion will transform this region, strengthen the U.S. semiconductor supply chain, and create up to 1,000 jobs in the local community.”

During his visit to the White House in 2022, Chey told President Biden during their meeting that the SK Group would invest $22 billion in future industries. Specifically, $15 billion will be used to build advanced semiconductor packaging manufacturing facilities, $5 billion will be used for the green (clean) energy sector, and $2 billion will be used for bioscience and pharmaceutical research and development.

Chey said, “I am proud to show SK Group’s firm commitment to fulfilling our promise through this investment. I am grateful to the state of Indiana for welcoming SK Group. SK Group will continue to make significant investments to lead the future of global economic development, from AI to green energy.”

Based on Chey’s remarks, semiconductor industry experts analyzed the possibility of additional U.S. semiconductor investments led by SK Hynix, which is around $11 billion, which has increased.

Daniel Kim
content@viewusglobal.com

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