The U.S. Department of Commerce provides SK Hynix with a huge amount of funds to support its construction of an advanced chip packaging plant in Indiana

The U.S. Department of Commerce has agreed to provide South Korea's SK Hynix with up to $458 million in grants and $500 million in loans to support the construction of its advanced chip packaging plant in Indiana. The plant is a key part of the U.S. government's efforts to build a domestic semiconductor supply chain. The final contract amount is slightly higher than the preliminary agreement in August, meaning SK Hynix can start receiving funds after its project meets the negotiated benchmarks.