The South Korean government gave its final approval for the construction of the Yongin Semiconductor Cluster, which will be home to more than 50 semiconductor material, component and equipment manufacturers and suppliers. SK hynix is planning to invest 120 trillion won in the industrial complex.

The Ministry of Trade, Industry and Energy announced on March 29 that every administrative procedure for the construction project has been completed through the Yongin City mayor’s approval and notification.

The project is scheduled to be initiated in the fourth quarter of this year and initial fab facilities are slated to be completed in early 2025.

The cluster will have a total area of 4.15 million square meters in and around Wonsam-myeon. Four fabs are supposed to be built there for a production capacity of up to 800,000 wafers a month.