SK Siltron to Receive 100 Billion KRW Support from Michigan for US Wafer Plant Expansion

SK Siltron will receive approximately 100 billion KRW in support from a U.S. state government.

According to industry sources on the 11th, SK Siltron will receive a total of 77 million USD (about 105 billion KRW) in investment subsidies and tax benefits from the Michigan state government for the expansion of its silicon carbide (SiC) wafer factory, a next-generation power semiconductor material, located in Bay City, Michigan.

SK Siltron's U.S. subsidiary, SK Siltron CSS, produces SiC wafers used in electric vehicles and energy storage systems (ESS). It currently operates a factory in Bay City.

Earlier in February, SK Siltron CSS also received a loan of 54.4 million USD (about 72 billion KRW) from the U.S. Department of Energy. The Department of Energy explained that while demand for high-quality SiC wafers is increasing due to rising electric vehicle sales, current supply is insufficient, and this loan project will help SK Siltron CSS expand its supply.

Based on the secured funds, SK Siltron CSS plans to complete the Bay City factory expansion by 2027.

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