Is the U.S. Reaching for the Factory? SK Hynix Denies Intel Ohio Campus Acquisition Amid Trump-Era Billion-Dollar Pressure

In response to foreign media reports on Tuesday (21st) suggesting that SK Hynix would acquire Intel's large semiconductor campus in Ohio, the company issued a formal denial on Wednesday (22nd). Intel simultaneously clarified that it currently has no plans to sell its chip fabrication facilities.

The reports indicated that if the deal were to proceed, SK Hynix could begin producing memory chips at the site within five years—fulfilling U.S. government demands for domestic semiconductor manufacturing while providing financial relief to Intel’s struggling foundry business.

Intel’s Ohio campus broke ground in 2022, spanning approximately 4.05 million square meters and designed to accommodate up to eight fabrication plants. The project was initially projected to cost $100 billion in total investment. However, due to delays in subsidy approvals under the U.S. CHIPS Act and ongoing losses in its foundry operations, full production has been pushed back to 2030–2031.

Although the acquisition rumors have been denied, the broader context of U.S. pressure on Samsung Electronics and SK Hynix to invest in American semiconductor manufacturing cannot be ignored. SK Hynix recently raised $26.5 billion through an American Depositary Receipt (ADR) offering in the U.S., funds intended for domestic expansion in South Korea and the purchase of EUV equipment. Shortly afterward, U.S. Secretary of Commerce Lutnick revealed that the U.S. government had entered negotiations with both SK Hynix and Samsung, urging them to build new factories in the United States—and even threatening up to a 100% tariff if they fail to invest.

Under this White House pressure, SK Hynix has already announced a $3.87 billion investment in Indiana to construct an HBM (High Bandwidth Memory) packaging and testing facility, targeting production by 2028.

The South Korean industry views the Commerce Secretary’s direct intervention and SK Hynix’s Nasdaq listing as a carefully orchestrated pressure campaign by the U.S. government.

Meanwhile, South Korea’s own 800 trillion won semiconductor expansion plan faces obstacles. Strong local opposition to new nuclear power plants and dam constructions—critical infrastructure for semiconductor manufacturing—has made domestic expansion difficult. As a result, South Korean firms’ investments in the U.S. have become less of a strategic choice and more of a necessity.