"Confident of SK's Additional Investment" ... U.S. Senator Says He Expects Expansion Beyond HBM Into Biotech

[Financial News, West Lafayette = Reporter Lee Byung-chul]SK hynix is expected to further expand its investment in the United States, starting with its high-bandwidth memory (HBM) production base in Indiana, where it plans to invest more than $4 billion. The company also aims to draw additional investment from the SK Group's other advanced industries, including biotech, to Indiana.
At the groundbreaking ceremony for SK hynix's HBM production base in West Lafayette, Indiana, on the 27th (local time), U.S. Senator Todd Young said in response to reporters' questions about the possibility of additional investment by SK hynix, "They will increase their investment here in Indiana."
Young described the $4 billion investment as a "starting point." He said, "I can say this with a fairly high degree of confidence. First, remember that this is the first fab. The $4 billion is the initial investment."
Young said he expects continued additional investment in the West Lafayette production base as technology advances and output expands. "As new technologies are introduced and new levels of production are required, this fab will expand and new workers will be hired," he said. "You will keep seeing new buildings added and existing facilities renovated."
He also highlighted the possibility of building a semiconductor ecosystem in Indiana centered on SK hynix. "Over time, you will also see a broader ecosystem take shape," Young said. "Suppliers will establish themselves locally, so they will no longer need to travel around the world to source materials." His remarks suggest that the long-term impact of the investment could be even greater than SK hynix's earlier projection that the project would build an ecosystem linked to more than 100 partner companies and create about 7,000 direct and indirect jobs.
Young also expressed hope of attracting additional investment from the broader SK Group, not just SK hynix. He specifically pointed to biotech. "I hope the entire SK Group will free up some of its resources and invest in areas like biotech, and perhaps even shipbuilding," he said. "Biotech in particular."
He also revealed that he had discussed related matters with SK Group Chairman Chey Tae-won. "When I had dinner with Chairman Chey in Korea a few years ago, he showed great interest," Young said. "Whenever I speak with Chairman Chey, I tell him that we are ready to receive investment." He added that SK Group "has a significant amount of cash and is especially looking for places to invest in the United States," and stressed, "We already have a strong relationship and have earned the trust of SK Group."
Young cited Indiana's existing industrial base and universities as reasons the state could become a destination for more SK investment. Referring to the biopharmaceutical, agricultural life sciences, and animal health industries, as well as Purdue University and Indiana University (IU), he said, "Why wouldn't you consider Indiana as a biotech investment destination?"
SK hynix CEO Noh-Jung Kwak also left open the possibility of additional investment in the United States. At a press conference, Kwak said, "There are no confirmed or narrowed-down candidates yet," but added that the company could consider investing in any region that offers sufficient water, power, land, and support.


[email protected] Reporter Lee Byung-chul Reporter