SK hynix (KRX:000660) has approved a combined 54.3 trillion won investment to build new fabrication facilities in Yongin and Cheongju, responding to surging memory demand in the AI era.

The Yongin Y2 fab will receive 35.2 trillion won as the second of four planned plants in the semiconductor cluster, while the Cheongju M17 fab will get 19.1 trillion won, according to a statement on Friday.

The company views the projected 19% annual growth in DRAM and NAND demand through 2030 as a structural shift, and not a temporary cycle.

Y2 construction is set to begin in July 2027, with first cleanroom operations targeted for June 2029 to produce HBM and next-generation DRAM.

The investment is part of SK hynix's broader plan to accelerate completion of the Yongin cluster by 12 years, with total spending spanning to October 2031.