The move is to respond to rapidly growing demand for chips and its growing memory chip production capacity.

According to Korean online newspaper Money Today, SK Hynix is currently recalibrating its decades-long idle LCD facility located in Icheon, Korea into a chip packaging and inspection facility.

Industry sources said approximately 500 billion won will be spent in the facility renovation project. Once the expansion projects is finished, SK Hynix’s chip packaging and inspection capacity will double.

According to semiconductor market research firm DRAMexchange, the average price for 4Gb DDR4 DRAM has reached up to US$3.94 in April of 2018, up 3.41% compared to previous month.

Meanwhile, SK Hynix has invested 300 billion won to expand its chip packaging and inspection line located in Chongqing, China.