The United States plans to award SK hynix Inc. up to US$450 in grants to help fund its production base for semiconductor packaging in Indiana, the South Korean chip giant said Tuesday.The company said in April that it would invest around $4 billion to build an advanced chip production line and another facility to produce next-generation memory chips in the U.S. state.The chipmaker has signed a preliminary memorandum of terms with the U.S. Department of Commerce to receive the subsidy in direct funding and access to proposed loans of $500 million as part of the U.S.' CHIPS and Science Act for its investment, according to the release by the company.Source: Yonhap News Agency