SK Hynix CEO says Indiana will be key memory production base by 2030

Key Points:

• SK Hynix is expanding its U.S. presence with a $4 billion packaging factory in West Lafayette, Indiana, aiming to make the state a key high-bandwidth memory (HBM) production base by 2030 amid global AI-driven demand.
• The Indiana facility will focus on packaging and connecting memory chips manufactured in South Korea and China, with the first cleanroom expected to open in October 2028, supported by up to $458 million in federal CHIPS Act funds and $712 million in state incentives.
• SK Hynix plans to invest over $45 billion in the U.S. by 2030, including its $10 billion AI Company and subsidiary Solidigm, and will create around 1,000 direct jobs plus 6,000 construction and partner-related jobs, collaborating with Purdue University for talent.
• The company is open to building front-end chip fabs in the U.S. in the future and is working closely with AI leaders like Nvidia on next-generation memory chips, highlighting its strategic role in strengthening the U.S. semiconductor supply chain.
• This expansion is part of SK Hynix's broader $720 billion global buildout, primarily in South Korea, and follows its recent $26.5 billion Nasdaq listing, with its market value rising sevenfold over the past year to over $1 trillion.