U.S. to Award SK Hynix Initial $450M in Grants, $500M in Loans for Chip Facility

Aug 6, 2024, 09:28 AM

The U.S. Commerce Department announced plans to award South Korea's SK Hynix an initial $450 million in grants and $500 million in loans to build an advanced chip packaging and research facility in Indiana. This initiative is part of the U.S. CHIPS Act, aimed at bolstering domestic semiconductor manufacturing and research capabilities.