SK hynix faces dilemma between Solidigm investment, Chinese plant expansion

U.S. officials have held up approval for equipment SK hynix needs to expand its NAND plant in Dalian, China, complicating plans to use the plant’s revenue to help finance Solidigm’s U.S. production facilities. SK hynix says the proposed investment would install equipment in an existing empty cleanroom, while Washington views it as a possible capacity expansion or upgrade. The company has not finalized Solidigm’s investment plans, and it suspended a review of listing the subsidiary, citing capital market conditions.

The U.S. Commerce Department expanded SK hynix’s Validated End User status in 2023, but revoked it at the end of 2025 and replaced it with annual export licenses subject to quantity limits.

The current licensing system allows certain equipment but not equipment for upgrading technology or expanding capacity at the Chinese plants.

Solidigm is reportedly considering a $45 billion investment in two NAND flash memory plants in New York, with some estimates putting the eventual investment at $100 billion.

In an Oct. 29 regulatory filing, SK hynix said it was reviewing options to strengthen Solidigm’s competitiveness and expand its production capacity, but had made no final decisions.

Published Nov 4, 2026 3:05 pm KST

Solidigm's enterprise solid-state drives / Courtesy of Solidigm

SK hynix is facing a growing dilemma over U.S. export controls on advanced semiconductor equipment for its NAND flash plant in China, as Washington's reluctance to approve equipment shipments slows the chipmaker's plans to generate revenue from the Chinese plant to finance new production facilities for its NAND flash unit Solidigm in the United States.

Reuters reported on Wednesday that U.S. officials have held up approval for American chipmaking equipment needed by SK hynix to expand production in its NAND plant in Dalian, China.

The Dalian plant is a key production hub for Solidigm, manufacturing NAND flash memory and enterprise solid-state drives used in smartphones and data centers. SK hynix is seeking to resume investment in its second Dalian plant to expand NAND production capacity.

SK hynix had its Validated End User status expanded by the U.S. Commerce Department in 2023, effectively allowing it to bring American chipmaking equipment into its Chinese plants indefinitely. However, Washington revoked the status at the end of 2025 and replaced it with annual export licenses that allow certain equipment with quantity limits, but not for upgrading technology or expanding capacity.

The company received approval to bring in such equipment this year, and negotiations over next year's permits are still ongoing under the new licensing system.

That approval, however, does not extend to SK hynix's planned investment in its second Dalian plant. Washington appears to view the plan as an expansion or upgrade, though it has not formally denied it.

According to Reuters, Commerce Under Secretary Jeffrey Kessler maintained his position during a meeting last week that the U.S. did not want to allow additional American chipmaking equipment into China for capacity upgrades or expansion, though SK hynix argues that the investment should be permitted because it would involve installing equipment in an existing empty cleanroom rather than constructing a new facility.

SK hynix headquarters in Icheon, Gyeonggi Province / Yonhap

SK hynix declined to confirm or comment on matters related to equipment export licenses, but industry officials believe the issue is closely tied to Solidigm's investment plans in the United States.

Solidigm is reportedly considering investing $45 billion to build two NAND flash memory plants in New York, with some estimates suggesting that the investment could eventually reach $100 billion.

In a regulatory filing on Oct. 29, SK hynix said it was “reviewing various options to strengthen Solidigm's competitiveness and expand its production capacity, but that no decisions had been finalized.”

To finance this, SK hynix had been reviewing listing Solidigm, but announced on Oct. 23 that it had suspended plans, citing capital market conditions. With SK hynix also facing significant investment needs in Korea, securing sufficient funding remains a challenge despite its record-breaking earnings.

Against this backdrop, industry observers had speculated that SK hynix could use profits generated by improving productivity at its Dalian plant to help finance Solidigm's planned U.S. factories. However, delays in securing approval to bring in equipment needed to expand the Chinese plant's production capacity are now complicating that strategy.

“The current situation seems to be a dilemma for SK hynix,” an industry official said. “The company wants to expand its production capacity while the supply shortage continues, but the issue is complicated by U.S.-China tensions over semiconductor manufacturing equipment, making it difficult to resolve as a single company.”

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美国官员搁置了SK海力士用于扩建其位于中国大连的NAND闪存工厂所需设备的审批，这使得该公司利用该工厂的收入为Solidigm在美国的生产设施提供资金的计划变得复杂。SK海力士表示，拟议的投资将在现有的空置洁净室中安装设备，而华盛顿方面则认为这可能是产能扩张或升级。该公司尚未最终确定Solidigm的投资计划，并以资本市场状况为由，暂停了对该子公司上市的审查。

美国商务部在 2023 年扩大了 SK 海力士的“已验证最终用户”地位，但在 2025 年底撤销了该地位，并以受数量限制的年度出口许可证取而代之。

现行的许可制度允许引进某些设备，但不允许引进用于中国工厂技术升级或产能扩张的设备。

据报道，Solidigm 正在考虑投资 450 亿美元在纽约建设两座 NAND 闪存工厂，一些估计认为最终投资额将达到 1000 亿美元。

SK 海力士在 10 月 29 日提交的监管文件中表示，公司正在审查各种方案，以增强 Solidigm 的竞争力并扩大其产能，但尚未做出最终决定。

发布于2026年11月4日下午3:05（韩国标准时间）

Solidigm的企业级固态硬盘 / 图片由Solidigm提供

SK 海力士正面临着日益严峻的困境，因为美国对其位于中国的 NAND 闪存工厂的先进半导体设备实施出口管制，而华盛顿方面迟迟不愿批准设备出货，这拖慢了这家芯片制造商从中国工厂获得收入以资助其位于美国的 NAND 闪存部门 Solidigm 新建生产设施的计划。

路透社周三报道称，美国官员搁置了SK海力士为扩大其位于中国大连的NAND工厂的产能而需要的美国芯片制造设备的审批。

大连工厂是Solidigm的关键生产中心，生产用于智能手机和数据中心的NAND闪存和企业级固态硬盘。SK海力士正寻求恢复对其在大连的第二家工厂的投资，以扩大NAND闪存的产能。

2023年，美国商务部扩大了SK海力士的“认证最终用户”资格，使其能够无限期地将美国芯片制造设备引入中国工厂。然而，华盛顿方面在2025年底撤销了该资格，取而代之的是年度出口许可证，允许进口特定设备，但数量有限制，且不能用于技术升级或产能扩张。

该公司今年已获准引进此类设备，根据新的许可制度，明年的许可证谈判仍在进行中。

然而，这项批准并不包括SK海力士计划对其大连第二家工厂的投资。华盛顿方面似乎将该计划视为扩建或升级，尽管尚未正式否决。

据路透社报道，美国商务部副部长杰弗里·凯斯勒在上周的一次会议上坚持他的立场，即美国不希望允许更多的美国芯片制造设备进入中国进行产能升级或扩张，尽管SK海力士认为应该允许这项投资，因为它涉及在现有的空置洁净室中安装设备，而不是建造新的设施。

SK海力士总部位于京畿道利川市 / 韩联社

SK 海力士拒绝确认或评论与设备出口许可证相关的事宜，但业内人士认为，该问题与 Solidigm 在美国的投资计划密切相关。

据报道，Solidigm 正在考虑投资 450 亿美元在纽约建造两座 NAND 闪存工厂，一些估计表明，最终投资额可能达到 1000 亿美元。

SK 海力士在 10 月 29 日提交的监管文件中表示，公司正在“审查各种方案，以增强 Solidigm 的竞争力并扩大其产能，但尚未做出最终决定”。

为了筹集资金，SK海力士曾考虑让旗下子公司Solidigm上市，但于10月23日宣布暂停上市计划，理由是资本市场状况不佳。此外，SK海力士在韩国也面临着巨大的投资需求，因此，尽管其盈利屡创新高，但获得充足的资金仍然是一项挑战。

在此背景下，业内人士曾猜测SK海力士可能会利用其大连工厂提高生产效率所获得的利润，为Solidigm计划在美国建设的工厂提供资金。然而，由于引进扩建中国工厂所需设备的审批工作迟迟未能完成，这一策略如今变得复杂起来。

一位业内人士表示：“目前的情况对SK海力士来说似乎是一个两难的局面。该公司希望在供应短缺持续的情况下扩大产能，但由于中美之间在半导体制造设备问题上的紧张关系，这个问题变得更加复杂，单凭一家公司很难解决。”

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