SK General Chemical, Strategic Choice to Sell Held LTC Shares

[Asia Economy Reporter Hyungsoo Park] LTC announced on the 12th that SK General Chemical sold its entire 9.17% stake through off-hours trading.


An LTC official explained, "The sale of SK General Chemical's stake in LTC was a strategic choice due to internal circumstances," and added, "The cooperative relationship with SK remains valid."


He continued, "The collaboration with SK Materials to expand the portfolio of high-performance wet chemical products for semiconductors is progressing closely."


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In 2018, LTC signed a convertible bond acquisition contract worth approximately 10.7 billion KRW with SK Materials, a semiconductor materials specialist under the SK Group, through its subsidiary LTC AM. Through business cooperation, they developed etching materials for 3D NAND and began mass supply. The business cooperation is generating synergy effects.


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