SK Hynix held a groundbreaking ceremony for M16 at its headquarters in Icheon on December 19.
About 200 people attended the event, including SK Group Chairman Chey Tae-won, SK Group Senior Vice Chairman Chey Jae-won, SK Group Chairman Cho Dae-sik, SK Group ICT Chairman Park Sung-wook, SK Hynix CEO Lee Seok-hee, and construction related executives.
M16 is a high-tech semiconductor plant that will be built separately for EUV, which is a next-generation equipment, and will be used as a base for SK Hynix's future growth. It is scheduled to be completed in October 2020.
The types and sizes of products will be decided in consideration of future market conditions and technology development of the company.
SK Group Chairman Chey Tae-won said in a speech of encouragement that not only technologies but also our sweat and effort should be put into high-tech hardware called M16.
Chairman Choi also said, "We expect SK Hynix to be able to make a good value that customers want and open up a new world of technology and semiconductors."
"If construction of M14 and M15 for SK Hynix, which had not been built for more than a decade, has been a long-cherished achievement, M16 is the starting line for SK Hynix," said CEO Lee Seok-hee of SK Hynix. "We will create a new future with innovations and technologies tailored to the world's first state-of-the-art infrastructure."