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SK hynix, the world's second-largest memory chip maker, said on Tuesday it plans to begin full-fledged production of its next-generation GDDR7 graphics memory chip in the third quarter. 

The company said the GDDR7 boasts industry-leading qualities, with an operating speed of 32 gigabits per second, a 60 percent improvement from the previous generation. 

When adopted for high-end graphics cards, the product can process data of more than 1.5 terabytes, equivalent to around 300 full-HD movies, in a second, reports Yonhap news agency.

The new chip also comes with improved power efficiency, by more than 50 percent compared with the previous generation, by adopting new packaging technology that addresses heat issues resulting from its ultra-fast data processing.

Lee Sang-kwon, head of the DRAM product planning division at SK hynix, said that GDDR7 is expected to be adopted by a wider range of applications, such as high-specification 3D graphics, AI, high-performance computing and autonomous driving.

"We will continue to work toward enhancing our position as the most trusted AI memory solution provider by strengthening the premium memory lineup further," Lee said.

Meanwhile, SK Group will secure 80 trillion won ($58 billion) by 2026 for investments, mainly in artificial intelligence and semiconductors.

SK Telecom, the country's leading wireless services providers, and telecommunications firm SK Broadband will invest 3.4 trillion won in establishing AI data centres by 2028, it said.