Sindogiyeon "Expanding Market Share in China with OLED Equipment Technology"

OLED Post-Processing Equipment Developer... First to Develop Vacuum Lamination Machine
World's First Curved Surface Vacuum Lamination Machine Developed to Respond to Foldable Market

[Asia Economy Reporter Hyungsoo Park] “Sindogiyeon is researching independent process technology to localize domestic display equipment. Currently, we possess outstanding technology in the laminating and autoclave equipment industries. After listing, we plan to actively expand our overseas customer base in the display equipment sector and aggressively enter new businesses requiring related technologies, such as hydrogen fuel cells and vacuum glass,” said Park Woong-gi, CEO of Sindogiyeon, at a press conference held in Yeouido, Seoul, on the 18th ahead of the KOSDAQ market listing.

Founded in 2000, Sindogiyeon is a developer of post-processing equipment for liquid crystal displays (LCD) and organic light-emitting diodes (OLED). Its main products are laminating equipment that bonds panels and various components during the post-processing stage of display panel manufacturing, and autoclave equipment that removes microbubbles.

In 2008, Sindogiyeon developed a vacuum laminator that applies uniform pressure under vacuum conditions. Compared to roller laminators, which press films by passing rollers over substrates, vacuum laminators have the advantage of minimizing bubble intrusion. By developing the vacuum laminator, also known as the 3D laminator, Sindogiyeon secured advanced technology ahead of competitors, strengthening its competitiveness.

Sindogiyeon was the first in the world to develop a curved vacuum laminator. With the emergence of various display types such as flexible and foldable displays, demand for curved vacuum laminators is expected to increase.

Leveraging its excellent technology, Sindogiyeon is actively targeting the display market, focusing especially on the rapidly growing Chinese flexible OLED market. Currently, the global display market is estimated at $120 billion (145 trillion KRW), with Chinese display panel manufacturers holding about a 10% market share. There are also projections that Chinese panel manufacturers will invest over 18 trillion KRW in new facilities by next year.

Sindogiyeon has plans to expand its business into hydrogen fuel cell equipment and the vacuum glass market using its core technologies. In the hydrogen fuel cell sector, Sindogiyeon developed laminating equipment for membrane electrode assemblies (MEA), which transport hydrogen ions. The MEA is a key component that produces electricity by moving hydrogen ions in hydrogen fuel cells. In 2009, Sindogiyeon was the first in the world to develop and supply a vacuum press that laminates MEAs using vacuum and heat. The company plans to strengthen related business divisions in line with the growth of the hydrogen fuel cell market.

In the vacuum glass sector, Sindogiyeon is developing new third-generation vacuum glass manufacturing equipment. Existing methods in the vacuum glass field have the disadvantage of complex manufacturing processes and a high likelihood of defects due to applying pressure at high temperatures. Developing technology that laminates at room temperature is expected to expand market share in the vacuum glass market.

Sindogiyeon’s total number of shares offered in the public offering is 1.3 million. The desired price range per share is 14,000 to 16,000 KRW, and through the initial public offering (IPO), the company aims to raise up to 20.8 billion KRW. Demand forecasting for institutional investors will be conducted from the 22nd to the 23rd, and the offering price will be finalized. Subscription for general investors will take place over two days starting on the 25th. Korea Investment & Securities is the lead underwriter.

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