Yesty, Sole Domestic Major Shareholder of SiC Semiconductor Company... 'Explosive Demand for Electric Vehicles'

[Asia Economy Reporter Hyunseok Yoo] YESTY, a specialized company in semiconductor and display thermal control equipment, announced on the 3rd that it secured the status of the largest shareholder through the acquisition of existing shares worth 3 billion KRW of its affiliate, YES Power Technics.

YES Power Technics is a company equipped with a production system for silicon carbide (SiC) power semiconductors. It is leading the localization of SiC power semiconductors, which have a high dependence on foreign imports. The existing largest shareholder of YES Power Technics is YESTY’s CEO Dongbok Jang. Through this contract, CEO Jang’s shareholding in YES Power Technics will decrease from 37.2% to 31.7%. On the other hand, after the acquisition, YESTY’s shareholding in YES Power Technics will increase from 28.7% to 34.2%, thereby securing the largest shareholder status for YESTY.

Meanwhile, on the 28th of last month, SK signed an investment contract to participate as a third-party allottee through a paid-in capital increase of YES Power Technics. SK’s investment scale is 26.8 billion KRW. SK explained that this is a full-scale entry into the SiC power semiconductor market as a strategic investor (SI) of YES Power Technics.

YES Power Technics plans to use part of the investment funds to expand its production lines. The funds will be used as operating capital for R&D and mass production of related SiC power semiconductors for electric vehicles and hydrogen vehicles. Currently, YES Power Technics is the only domestic company that has established a production system for SiC power semiconductors, including production lines applying high-temperature processes, and is expanding its business scope to overseas customers such as China as well as domestic customers.

A YESTY official stated, “Through acquiring shares of YES Power Technics, we will expand the SiC power semiconductor business, which is the next-generation growth engine, and create synergy effects through cooperation between YESTY and YES Power Technics. At the same time, we expect rapid growth through strategic support such as funding and infrastructure from the SK Group.” He added, “Although the demand for SiC power semiconductors is explosively expanding in markets such as electronic devices, electric vehicles, and hydrogen vehicles, the supply is globally insufficient.”

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