SEOUL-- SK hyinx Inc. said Wednesday it plans to allocate some 9.6 trillion won (US$8.5 billion) this year to expand its production facilities for dynamic random-access memory (DRAM) and NAND chips.

Through a regulatory filing, the South Korean chipmaker said it expanded the amount of investment originally estimated at 7 trillion won this year.

SK hynix said the investment is aimed at actively coping with changing market conditions while laying a firm foundation for its future growth. The investment will be used on building new clean rooms as well supporting various research and development projects, the company said.

The increased investment is also expected to help the company meet the rising demand for DRAM chips and expand production capabilities for 3D NAND products, it added.

Source: Yonhap News Agency