U.S. final deal for 660 billion won in subsidies to SK Hynix

The U.S. Department of Commerce said it has signed a contract to provide SK Hynix with $458 million, 660 billion won in subsidies and $500 million and 720 billion won in loans under the Semiconductor Act.

The grant will be used to build a semiconductor assembly plant in Indiana, USA.

The final amount of support was slightly higher than the $450 million in the preliminary transaction memorandum in August.

SK Hynix plans to invest $3.87 billion to build a plant in Indiana.

The Biden administration is rushing to support major semiconductor companies ahead of Trump's inauguration.

Earlier, $7.865 billion was confirmed for Intel and $6.165 billion for Micron.