Taipei: SK Group Chairman Chey Tae-won announced plans to double SK hynix Inc.'s wafer production capacity over the next five years during his visit to Taipei on Tuesday. Speaking to reporters at Computex, one of Asia's largest technology trade shows, Chey emphasized the challenges posed by the ongoing memory bottleneck, which is expected to persist until 2030.

According to Yonhap News Agency, Chey stressed the significant investments and time required to establish a new memory fabrication facility, noting that at least three years are needed to build one. Despite these hurdles, SK hynix is committed to doubling its wafer production capacity, marking the first time Chey has publicly shared these future production plans.

This announcement comes as part of SK hynix's broader efforts to enhance its production capabilities. The company is making substantial investments in its production facilities, including constructing its first advanced packaging factory in the United States. Chey also highlighted the strengthening trilateral partnership between SK hynix, Nvidia Corp., and TSMC Ltd., particularly in the development of base die for HBM4 chips, calling it "the best partnership ever."