South Korean chip firm SK hynix announced to build a new wafer manufacturing base in Dalian, North East China's Liaoning Province, further expanding its business in China after acquiring US chip giant Intel's assets in the region.

The new manufacturing facility will promote the competitive power of its local capacity as well as secure supply in the Chinese market, according to Chung Eun Tae, president of SK hynix in China, in a media report published on Monday.

He noted that China is an important partner for SK hynix and the company had been continuing its investment in its existing facilities in Wuxi, East China's Jiangsu Province and Southwest China's Chongqing Municipality.

SK hynix announced in 2020 the purchase of US chip giant Intel's flash drive and storage businesses, including its factory in Dalian. Part of the acquisition was completed at the end of 2021, with SK hynix acquiring the assets of Dalian facility and Intel operating the factory till the closing of the second phase expected in 2025.

Global Times