SK Hynix CEO: The sooner the Gwangju chip plant starts operations, the better, as chip demand far exceeds expectations.

SK Hynix plans to start construction of its semiconductor park in Gwangju, South Korea as soon as possible, betting on continued rapid growth in chip demand.

On October 9, Reuters reported that SK Group Chairman Chey Tae-won stated during a site inspection of the planned Gwangju semiconductor park on Friday: "We expect chip demand to continue to grow at a fairly rapid pace." He did not disclose a specific start date but emphasized that the company will "progress as quickly as possible" and expects to announce a construction timeline soon.

Choi Tae-won stated that SK Hynix has moved up its completion target for the Yongin Semiconductor Park from 2045 to 2033, but even so, it may still not meet future demand. "If necessary, we may have to proceed with construction simultaneously," he said.

The construction progress of the Gwangju Industrial Complex still depends on whether the government's water and electricity supply plan can be coordinated with SK's construction schedule. However, Chey Tae-won stated that the company hopes to start construction as soon as possible, and even if the water and electricity infrastructure is delayed, the foundation work may proceed first. He also emphasized that SK does not intend to speed up the process by reducing construction costs.

Accelerating the construction of the factory in Gwangju, with simultaneous progress expected in both the Yongin and Gwangju industrial parks.

Choi Tae-won stated that SK Hynix's current planned Gwangju campus is approximately two-thirds the size of the Yongin campus. If more land becomes available in the future, and demand is sufficient to support expansion, the project's scale is expected to increase further.

According to reports, the Gwangju Semiconductor Park is planned to cover approximately 8.26 million square meters, with the site selection including vacated land from the planned relocation of the Gwangju military airport and adjacent ammunition depot areas. SK Hynix and Samsung Electronics each plan to invest approximately 400 trillion won to build two chip manufacturing plants.

Currently, the South Korean government and local authorities are advancing infrastructure development for the industrial park, including electricity and water supply. Meanwhile, SK Hynix plans to complete the construction of four wafer fabs at its Yongin campus by 2033, ahead of schedule. Chey Tae-won's recent statement indicates that the company is considering accelerating the construction of its Gwangju campus and does not rule out the possibility of simultaneously developing both campuses.

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