SK Keyfoundry announced its decision to acquire 98.59% of SK Powertech from SK Inc. for 25 billion won.The acquisition is expected to be completed in the first half of this year, awaiting regulatory approval, marking an important step forward for SK Keyfoundry to become the leader in the next generation of composite semiconductor business.
SK Keyfoundry is an 8-inch wafer foundry that was spun off from Magnachip Semiconductor in September 2020 and became a subsidiary of SK Hynix in August 2022.
SK Powertech, formerly known as Yes Power Technics, was acquired by SK Inc. in 2022 and is known for its expertise in designing and manufacturing silicon carbide (SiC) power semiconductors.These semiconductors are increasingly recognized for their durability and efficiency, especially in high power and high temperature applications, making them ideal for electric vehicles and renewable energy systems.According to global market research firm Omdia, the SiC semiconductor market is expected to grow at an astonishing 31% annual growth rate, reaching $23 billion by 2030.
The acquisition comes at a time when the 8-inch wafer foundry market utilization rate is increasing, providing an excellent opportunity for SK Keyfoundry to improve its competitiveness.By combining SK Powertech's SiC technology with its own semiconductor mass production capabilities, SK Keyfoundry aims to create significant synergies.
SK Keyfoundry said: The equity acquisition is intended to enhance our competitiveness in our next-generation compound semiconductor business.We believe that with its semiconductor mass production expertise, SK Keyfoundry can produce synergies with SK Powertech, which has SiC-based power semiconductor technology.
Power semiconductors are essential for managing and converting electrical energy in a variety of applications, including electric vehicles, industrial machinery and communication networks.As the core pillar of SK Keyfoundry's growth strategy, the acquisition of SK Powertech is expected to accelerate the development of SiC power semiconductor capabilities and ultimately transform SK Keyfoundry into a professional foundry for power semiconductors.
