On Wednesday, the world’s second-largest memory chip maker SK Hynix stated, it has agreed to a five-year procurement contract worth $4.34 billion (4.8 trillion won) with ASML Holding N.V. to secure extreme ultraviolet (EUV) scanners that are used to manufacturing chips.

In a regulatory filing, SK Hynix said, the deal is for its planned mass-production of chips by next-generation processes.

($1 = 1,107.2400 won)