The U.S. administration under Joe Biden has signed a contract to provide SK Hynix with direct subsidies worth approximately 660 billion won.
On the 19th (local time), the U.S. Department of Commerce announced that it had finalized a contract to support SK Hynix with direct subsidies of $458 million (about 663.3 billion won) and government loans of $500 million (about 724.2 billion won).
The initial subsidy amount for SK Hynix announced by the U.S. government in August was around $450 million, and the contract was signed at a slightly higher amount.
SK Hynix has announced plans to invest $3.87 billion to build packaging production facilities and other infrastructure in Indiana, USA.
U.S. Secretary of Commerce Gina Raimondo said, "The bipartisan CHIPS Act continues to strengthen America's global technology leadership by investing in companies like SK Hynix and communities like West Lafayette," adding that through this support, "we are strengthening the U.S. artificial intelligence (AI) hardware supply chain in a way no other country can match."
The U.S. Department of Commerce stated, "This investment in SK Hynix, the world's leading high-bandwidth memory (HBM) manufacturer, is a significant step forward in securing the U.S. supply chain," and added, "This investment enables HBM manufacturing in the U.S., creates 1,000 new facility jobs and hundreds of construction jobs, and through a partnership with Purdue University, will establish a research hub in Indiana."
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