SK Hynix has announced that it is building four new memory chip plants that will cost $107 billion. Construction of the plants will begin in 2022 at a 4.5 million square meter site that is south of Seoul. SK Hynix is expected to invest $49 billion into 2 existing plants. Next-generation chips and DRAM are expected to be manufactured at the sites. Even though there is a downturn in the memory market now, SK Hynix is preparing for cutting edge technologies such as 5G and self-driving vehicles. "Though there is not enough chip demand for autonomous cars now, I believe there will be much more demand for self-driving vehicles in the next 10 years or as early as in 2023 or 2024," said analyst Kim Young-gun at Mirae Asset Daewoo. "That will create more chip demand for SK Hynix," as will the commercialization of 5G networks over the next few years, Kim said.