SKC increases Absolics stake to 70% to boost glass substrate business

SKC is increasing its stake in Absolics, its semiconductor glass substrate subsidiary, to 70% through an additional acquisition of 192,416 shares valued at 281 billion won. The transaction is scheduled for November 24.

Absolics, a joint venture between SKC and Applied Materials, is focused on commercializing next-generation glass substrates for high-performance semiconductor packaging. The company is utilizing a two-track strategy involving both embedding and non-embedding products. Embedding products have completed preliminary electrical characteristic verification and have entered the reliability testing phase, while non-embedding products are participating in customer projects with technical verification expected later this year.

To support these operations, Absolics is also pursuing a rights offering of approximately 400 billion won. These funds will be directed toward glass substrate evaluation, customer certification, and upgrading production equipment and yields at its manufacturing facility in Georgia, USA.