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    A000660   KR7000660001

SK HYNIX INC.

(A000660)
  Report
End-of-day quote Korea Stock Exchange  -  2022-09-28
80800.00 KRW   -0.49%
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SK Hynix to break ground on new U.S. chip packaging plant early next year - sources

08/11/2022 | 08:04pm EDT
FILE PHOTO: The logo of SK Hynix is seen at its headquarters in Seongnam

WASHINGTON (Reuters) - South Korea's SK Hynix aims to select a U.S. site for its advanced chip packaging plant and break ground there around the first quarter of next year, two people familiar with the matter said, helping the United States to compete as China pours money into the burgeoning sector.

The plant, whose estimated cost would be "several billions," would ramp up to mass production by 2025-2026 and employ about 1,000 workers, one of the sources said, declining to be named because the details surrounding the plant have not been made public.

It would likely be located near a university with engineering talent, the person added.

South Korea's second-biggest conglomerate SK Group, which owns one of the top memory chipmakers SK Hynix, announced the new plant last month as part of a $22 billion U.S based investment package in semiconductors, green energy and bioscience projects. The announcement, heralded by the White House, allocates $15 billion to the semiconductor industry through research and development programs, materials, and the creation of an advanced packaging and testing facility.

"R&D investments will include building out a nationwide network of R&D partnerships and facilities," the sources said, adding that the advanced packaging facility would package SK Hynix's own memory chips with logic chips designed by other U.S. companies for machine learning and artificial intelligence applications.

In a statement to Reuters, SK Hynix did not specifically address the new details about the plant but said that of the recently announced investment,"$15 billion will be invested in advanced packaging and other semiconductor-related R&D, of which details have not been decided yet."

The United States long ago ceded most basic, low value chip packaging operations to overseas factories mostly in Asia, where chips are placed into protectives frames which are then tested before being shipped to electronics manufacturers.

But fresh battle lines are being drawn in the race to develop advanced packaging techniques, which involves placing different chips with different functions into a single package, enhancing overall capabilities and limiting the added cost of more advanced chips.

"While the United States and its partners have advanced packaging capabilities, China's massive investments in advanced

packaging threaten to upend the market in the future," the White House said in a 2021 report.

An executive at China's top chipmaker SMIC, which was added to a U.S. trade blacklist in 2020, said last year that Chinese companies should focus on advanced packaging to overcome their weaknesses in developing more sophisticated chips, the report added.

The SK move comes after Biden signed into law the CHIPS Act this week, providing $52 billion in subsidies for chip manufacturing and research, as well as an estimated $24 billion investment tax credit for chip plants. The sources said both the R&D facilities and the chip packaging plant would qualify for the funding.

The announcements also comes amid a flurry of expansion plans announced by chipmakers in the United States in recent years, from Taiwan Semiconductor Manufacturing Co. to Samsung and Intel.

(Reporting by Alexandra Alper; Additional reporting by Karen Freifeld; Editing by Chris Sanders, Alexandra Hudson)

By Alexandra Alper


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
INTEL CORPORATION 0.04% 26.395 Delayed Quote.-47.32%
MSCI TAIWAN (STRD) 0.22% 465.029 Real-time Quote.-37.48%
SAMSUNG ELECTRONICS CO., LTD. -0.57% 52600 End-of-day quote.-32.82%
SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION 0.13% 16 Delayed Quote.-14.36%
SK HYNIX INC. -0.49% 80800 End-of-day quote.-38.32%
TAIWAN SEMICONDUCTOR CO., LTD. 2.71% 79.6 End-of-day quote.1.27%
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED -0.68% 435 End-of-day quote.-29.27%
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09/28UBS Adjusts SK Hynix's Price Target to 130,000 Won From 155,000 Won, Keeps at Buy
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Analyst Recommendations on SK HYNIX INC.
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Financials
Sales 2022 50 897 B 35,6 B 35,6 B
Net income 2022 8 689 B 6,08 B 6,08 B
Net Debt 2022 8 156 B 5,70 B 5,70 B
P/E ratio 2022 6,71x
Yield 2022 2,06%
Capitalization 57 144 B 39 967 M 39 967 M
EV / Sales 2022 1,28x
EV / Sales 2023 1,21x
Nbr of Employees 30 520
Free-Float 68,8%
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Mean consensus BUY
Number of Analysts 34
Last Close Price 80 800,00 KRW
Average target price 127 772,73 KRW
Spread / Average Target 58,1%
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Managers and Directors
Seok-Hee Lee President, Chief Executive Officer & Director
Jung-Ho Park Co-Chief Executive Officer & Director
Kwon Hong Managing Director & Head-Finance
Tae-Won Chey Chairman-Executive Board
Tae-Hoon Kim Managing Director & Head-Technology
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