South Korea's SK Hynix to launch US chip plant in 2023: Sources

South Korea's SK Hynix aims to select a US site for its advanced chip packaging plant and break ground there around the first quarter of next year, two people familiar with the matter said, helping the United States to compete as China pours money into the burgeoning sector. The plant, whose estimated cost would be "several billions", would ramp up to mass production by 2025-26 and employ about 1,000 workers, one of the sources said, declining to be named because details about the plant have not been made public. It would likely be located near a university with engineering talent, the person said. The company is "hoping to make a selection of the site and break ground somewhere around the first quarter of next year", one of the people said. SK Group, South Korea's second-biggest conglomerate, owns memory chipmaker SK Hynix and announced the new plant last month as part of a $22bn US-based investment package in semiconductors, green energy and bioscience projects.