Semiconductor wafer maker SK Siltron said on Wednesday that it plans to spend 1 trillion won for the next three years to expand its production of 300mm wafers.
Additional facilities will be built on 42,716 meter-square of land and construction will start during the first half of 2022, the company said.
New facilities will hire over 1,000 new employees and start operations in 2024, the company added.
Due to the ongoing global chip shortage, raw materials and components that are part of the value chain are also seeing high demand.
The US Department of Commerce in February, after investigating around 150 companies in the chip supply chain, said the shortage in wafers was one of the main causes of the chip shortage.