SKC子公司Absolics拟以约4011亿韩元增资推进玻璃基板商业化

SKC said on Aug. 21 that its subsidiary Absolics has decided to conduct a rights issue worth about 400 billion won to secure funding needed to commercialize glass substrates. The move is part of the process to deploy the 589.6 billion won that SKC said it would invest in Absolics from the 1.1671 trillion won raised through its rights issue in May.
As Absolics is a separate corporate subsidiary of SKC, the funds will be transferred through a rights issue. This marks the first funding deployment under Absolics' three-year investment plan.
SKC plans to invest the 589.6 billion won in Absolics in stages from 2026 through 2028. Of the total, 472.6 billion won is allocated to capital expenditures (CAPEX) and 117 billion won to operating expenses (OPEX). CAPEX consists of 102.6 billion won for equipment investment, 237.5 billion won for commissioning costs and 132.5 billion won for manufacturing labor costs. OPEX includes 42.8 billion won for administrative labor costs and 74.2 billion won for fees and other expenses.
SKC will not bear the entire 400 billion won being raised by Absolics. SKC currently owns 70.05% of Absolics, while Applied Materials (AMAT) holds 29.95%. New shares will first be allocated based on the existing ownership ratios, with the actual subscription amounts to be determined through each shareholder's internal procedures.
If any shares remain unsubscribed, existing shareholders or third parties may subscribe for additional shares under the shareholders' agreement. SKC's final investment amount will be disclosed separately following a board resolution.
The proceeds will be used for customer evaluations and qualifications of glass substrates. The funds will also be used to upgrade equipment to improve production yields and quality. The investment will go into the first-phase plant, which is currently producing prototypes. Absolics will consider a large-scale second-phase expansion depending on customer evaluations and progress at each stage.
Absolics is pursuing a two-track strategy to commercialize both embedding and non-embedding glass substrates. Embedding products have completed preliminary evaluations, including verification of the electrical characteristics of samples produced at the Georgia plant, and have entered reliability testing. Non-embedding products are participating in a project scheduled to select a supplier in the second half of 2026. If selected, Absolics plans to begin a proof of concept (PoC) within 2026.
"Through the fundraising, we will proceed with Absolics' glass substrate commercialization without disruption and accelerate preparations for mass production," an SKC official said. "We will continue to work closely with strategic partners to firmly establish overwhelming technological leadership in the next-generation semiconductor packaging market."