SKC to Merge with SK Enpulse, Focusing on High-Value-Added Semiconductor Back-End Processes
Investment in High-Value-Added Back-End Advanced Materials and Test Solutions
Approximately 380 Billion Won from SK Enpulse’s Cash and Assets to Flow into SKC
As part of its business portfolio rebalancing (business restructuring), SKC will merge with SK Enpulse, an investment company in the semiconductor materials sector. Through this restructuring, SKC plans to focus its investments on high-value-added semiconductor back-end processes.
On October 14, SKC held a board meeting and approved the merger proposal with SK Enpulse. SKC plans to complete the merger within this year after fulfilling the remaining procedures. The official merger date is set for December 22.
With this merger, SKC will secure approximately 380 billion won in funds, including SK Enpulse's cash holdings and proceeds from business divestitures. These funds will be invested in high-value-added semiconductor back-end packaging and advanced materials, such as the commercialization of glass substrates. In addition, the funds will be used to improve financial soundness, including reducing debt.
Since 2023, SKC has been actively pursuing semiconductor materials business rebalancing as part of its mid- to long-term portfolio transformation strategy. SK Enpulse sequentially sold its Fine Ceramics, Wet Chemical & Cleaning, CMP Pad, and Blank Mask business units, while the back-end equipment business was separated into a newly established company, iSemi, and transferred to ISC.
SKC also announced that SK Enpulse plans to sell its CMP slurry business. The specific method and timing of the CMP slurry business sale have not yet been determined.
As a result, SKC's semiconductor materials business will be reorganized around ISC's test socket and equipment operations and Absolix's glass substrate business, which is being commercialized in Georgia, USA. Based on this, SKC aims to strengthen its competitiveness in high-value-added back-end processes and expand its presence in the advanced semiconductor materials sector.
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An SKC representative stated, "The divestiture of SK Enpulse's non-core businesses and the merger are measures to complete the portfolio transition toward high-value-added, back-end-focused operations in semiconductors and to enhance financial soundness. We will use the secured funds to create new opportunities for growth in the back-end sector."
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