[Bank of America: South Korea's Memory Capacity Expansion Expected to Average Below 10% Annually, Far Short of the 2030 Doubling Target] According to a report by Jinse Finance on July 14, Bank of America's latest report highlights that the market is overly optimistic about the expansion commitments of South Korea's memory giants. In response to South Korean President Lee Jae-myung's slogan of 'doubling capacity by 2030,' Bank of America estimates that, after accounting for the closure of older facilities due to technological upgrades and capacity reductions caused by transitions to more advanced processes, the actual annual expansion rate will be below 10%, falling far short of the doubling target by 2030.