Shares of Samsung Electronics and SK Hynix plunged on July 2, Thursday, by over 7% and 9% respectively, dragging down South Korea's KOSPI:
This decline followed a significant drop in technology stocks on the U.S. Nasdaq:
Samsung Electronics erased billions in market value, while SK Hynix's shares also saw a substantial drop:
SK Hynix's CEO Kwak Noh-jung stated that the company plans to invest 100 trillion Korean won ($64.37 billion) in South Korea, with the construction of its M17 fabrication plant set to begin next year:
He noted that these investments aim to meet the soaring demand for HBM servers, DRAM, and NAND:
SK Hynix is also set to begin trading American depositary receipts on the Nasdaq on July 10:
