SK Hynix Inc has outlined a strategy to significantly expand its manufacturing output to address the critical supply-demand imbalance in the memory chip market.

Chairman Chey Tae-won announced the company's intention to double its production capacity over the next five years during a keynote speech at the Computex exhibition in Taipei.

Chey maintains a long-term outlook, believing the memory chip shortage will persist until at least 2030, necessitating substantial industry investment.

In pursuit of this expansion, the company is actively seeking additional partnership opportunities within Taiwan to support its growth plans.

While confirming the ambitious capacity target, the Chairman declined to specify the exact capital expenditure figures associated with the initiative.

He noted that rising costs across the board, including construction expenses, are a significant factor in the current business environment.