11:38 - 2.07.2024

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July 2, Fineko/abc.az. SK Hynix will invest 103 trillion wons ($74.6 billion) in chip production by 2028, focusing on artificial intelligence (AI).

ABC.AZ reports that this is stated in the statement of parent company SK Group following the two-day strategic meeting.

By 2026, the company plans to allocate 80 trillion wons for investments in AI and semiconductors, as well as to finance shareholder income and optimize the activities of more than 175 of its subsidiaries.

The publication notes that the main source of income for conglomerate SK Hynix and the division for the production of batteries for electric vehicles suffered major losses.

Earlier this year, the South Korean government, amid a "total war" on the global semiconductor market, announced the allocation of a $19 billion support package for the chip manufacturing business.