SK Hynix to invest US$2.7b in memory chip output

SEOUL: South Korea’s SK Hynix Inc said it will invest 3.16 trillion won (US$2.7bil) in its home country and China to boost memory chip production, seeking to capitalise on an industry-wide surge in demand.

Most of the investment by the world’s No. 2 memory maker will go toward building a new plant to make NAND flash chips used for long-term data storage.