Doosan Corporation agreed on 31 July to acquire a 70.61% stake in SK Siltron, South Korea's only semiconductor silicon wafer manufacturer, from SK Inc. for a base price of ₩2.3tn.
Why Doosan Corporation is buying SK Siltron Co., Ltd. (70.6%)
Doosan said the deal secures a medium- to long-term growth base through diversification and gives it a stable profit stream to support dividends. It expects wafer demand to grow about 7% a year through 2032 on AI-driven chip investment, has set a sales target of about ₩3tn for SK Siltron by 2031 and does not plan to list the company.
Deal terms and financing
Doosan pays a 10% deposit on signing and the balance at closing, funded from its own cash and borrowings. On top of the base price, SK can receive 40% of any EBITDA above annual thresholds from 2027 to 2034, ₩25bn for each of four customer qualifications completed by mid-2029, and gains on the sale of SK Siltron's US silicon carbide unit, which is being wound down. An external valuation by Deloitte Anjin put the stake at ₩2.09tn to ₩2.47tn.
Regulatory approvals and timing
Closing is expected on 31 January 2027, subject to regulatory approvals and other conditions in the agreement.
Market context
SK Inc. picked Doosan as preferred bidder in December 2025. SK Siltron reported 2025 revenue of about ₩2.06tn, makes 300mm and 200mm wafers and ranks among the top three suppliers of 12-inch wafers. Doosan will negotiate separately for the 29.39% held by SK chairman Chey Tae-won.
