Key facts
- SK Inc. will sell its 70.6% stake in SK Siltron to Doosan Group.
- The transaction is valued at 2.3 trillion won (approximately US$1.6 billion).
- SK Siltron is South Korea's sole dedicated producer of semiconductor wafers.
- Doosan aims to bolster its semiconductor materials and equipment portfolio with the acquisition.
- The sale is part of SK Group's broader restructuring strategy.
SK Inc., the holding company of South Korea's SK Group, announced on Friday that it has entered into a 2.3 trillion won (approximately US$1.6 billion) stock sale agreement to transfer its stake in its chip materials affiliate, SK Siltron Co., to Doosan Group.
The decision, formalized during a board meeting, involves SK selling its 70.6 percent ownership in SK Siltron to Doosan, a prominent South Korean conglomerate known for its engineering and energy businesses. This move follows Doosan's selection as the preferred bidder in December, after an evaluation process that considered factors such as corporate growth potential and job stability.
SK Siltron, established in 1983, holds the distinction of being South Korea's sole dedicated producer of semiconductor wafers, a critical component in chip manufacturing. The company is also a global player, ranking third worldwide in market share for 12-inch wafers.
For Doosan, the acquisition is a strategic step to enhance its semiconductor materials and equipment offerings, aligning with its future growth objectives. The group has previously acquired other semiconductor-related firms, including Doosan Tesna Inc. (a chip testing company) and Engion (a chip packaging firm). Doosan has set an ambitious target to increase SK Siltron's annual revenue to approximately 3 trillion won by 2031.
The sale of SK Siltron is part of SK Group's broader restructuring initiative, which began last year. This initiative aims to streamline its business portfolio, improve financial health, and secure long-term growth avenues.