Doosan Acquires SK Siltron for 2.3 Trillion Won, Targets 3 Trillion Won in Sales by 2031 (Comprehensive)

Aiming for Global Top 2 in Memory Wafers
SK Siltron to Remain Unlisted

Doosan is acquiring SK Siltron, SK Group's semiconductor wafer manufacturing company, for 2.3 trillion won. By expanding its business domain from semiconductor back-end processing to front-end materials, Doosan aims to secure a stable profit base and enhance shareholder value.

On July 31, Doosan and SK Inc. held separate board meetings and announced that they had approved the signing of a share purchase agreement, under which Doosan will acquire a 70.6% stake in SK Siltron currently held by SK Inc. The acquisition price is set at 2.3 trillion won, with the final amount to be determined through future price adjustment procedures.

SK Siltron exterior. The Asia Business Daily DB

Founded in 1983, SK Siltron is the only semiconductor wafer manufacturing company in Korea. Last year, the company reported sales of approximately 2 trillion won and operating profit exceeding 400 billion won. It produces and sells 300 mm (12-inch) and 200 mm (8-inch) silicon (Si) wafers for semiconductors and holds a top-three global competitiveness in the 12-inch wafer segment in particular.

Wafer manufacturing is regarded as a high value-added materials industry that demands advanced technology, rigorous quality control, and customer trust accumulated over long periods, making it highly challenging for new entrants. In fact, SK Siltron and four other companies together account for more than 90% of the global silicon wafer market.

Doosan projects that, driven by the expansion of artificial intelligence (AI) investment, the semiconductor market will continue robust growth, with wafer demand expected to show a solid average annual growth rate of 7% through 2032. Given the industry’s tendency to establish long-term supply contracts—typically around five years—with clients, Doosan anticipates both stable demand and gradual price increases.

Based on these factors, Doosan has set a sales target for SK Siltron of approximately 3 trillion won by 2031. In the field of wafers for memory chips, Doosan plans to expand business with existing major clients and secure new customers to rise to the global No. 2 position. In the non-memory wafer segment, which is largely dominated by Japan’s Shin-Etsu Chemical and SUMCO, the company plans to boost its market share through technology development and client base expansion.

By adding SK Siltron, which can generate stable profits over an extended period, Doosan intends to enhance management stability and increase its dividend resources. Doosan plans to nurture SK Siltron as a core profit base without taking the company public.

A Doosan representative commented, "Through this acquisition, we have secured future growth engines as well as a sustainable profit base," adding, "SK Siltron will not be listed on the stock market and, based on its stable business portfolio, will further contribute to enhancing Doosan's shareholder value."

This content was produced with the assistance of AI translation services.