[BizLeader] "The Only Domestic Semiconductor Test 'Total Solution'... Minimizing Defect Rates"

Interview with Moon Seongju, CEO of TFE
Strengthening R&D Capabilities through KOSDAQ Listing

Moon Sung-joo, CEO of TFE.

[Asia Economy Reporter Jang Hyowon] “TFE is the only domestic company that supplies almost all products used in semiconductor testers. Our greatest strength lies in minimizing product defect rates through a ‘total solution.’”

Moon Sungjoo, CEO of TFE, which is preparing for a KOSDAQ listing, emphasized this in an interview with . Established in 2003, TFE manufactures sockets, boards, burn-in boards, and COKs (Change Over Kits) used in the testing phase of semiconductor post-processing. In 2019, the company also acquired JMT, a Japanese lava socket specialist firm.

After the assembly process, semiconductors undergo functional testing to verify proper performance. During this test, the semiconductor chip is placed on a tester board and socket, with a COK placed on top to transmit electrical signals for testing. Burn-in boards are used to test the chip’s resistance to heat and cold.

TFE integrates all these core components of semiconductor package testing into a unified model and supplies them as a ‘total solution.’ While there are companies in Korea that produce sockets, boards, and COKs separately, TFE is the only company manufacturing all components at once.

CEO Moon explained, “When customers receive parts from multiple companies, they have to combine them to produce the final product. We can stably coordinate all parts according to semiconductor characteristics, minimizing errors that occur when parts are used separately. We provide solutions that can improve production yield by about 1 percentage point.”

TFE developed and launched its semiconductor package testing total solution for the first time last year. As of the first half of this year, about 10% of total sales come from this total solution. As the number of customers increases, sales related to component replacement cycles are also expected to expand.

Although the semiconductor industry has recently contracted, the industry TFE belongs to is a consumables market, so the impact is expected to be minimal. CEO Moon stated, “As non-memory semiconductor chips diversify, the volume of tests increases, expanding the market for our products with replacement cycles. Exports are also increasing, and we expect to enter as a primary partner for a leading domestic memory semiconductor company, which will help cover the overall industry downturn.”

In this field, TFE was the first in Korea to develop a non-memory semiconductor wireless signal simultaneous inspection solution and applied it to RF chips. RF chips experience wireless interference, making it impossible to test more than one chip simultaneously in a given space. TFE developed a solution that integrates wireless signal shielding technology into the COK, enabling simultaneous inspection of up to 32 chips. The company has also obtained six related patents.

Having devoted itself to technology development, TFE plans to continue investing in research and development (R&D) even after listing. Its long-term goal is to replace semiconductor testers, which currently rely mostly on foreign technology, with domestic technology.

CEO Moon emphasized, “Currently, more than 30% of our total workforce is dedicated to R&D, but after listing, we plan to focus even more on research and development to strengthen our lineup. Our mission and vision are to become the undisputed leader in semiconductor testing by eventually manufacturing semiconductor testers as well.”

Meanwhile, TFE’s total number of shares offered is 2.7 million, with a desired offering price range of 9,000 to 10,500 KRW per share, and a total offering amount of 24.3 to 28.3 billion KRW. The institutional demand forecast will be conducted over two days, March 3-4, to finalize the offering price, followed by a subscription period for general investors from March 8-9. The listing is underwritten by IBK Investment & Securities.

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