KoMiCo子公司MiCo Ceramics拟1500亿韩元收购LG Display龟尾闲置厂扩产半导体陶瓷加热件与ESC，交割2027年2月、融资缺口约878亿韩元未披露方案

MiCo Ceramics plans to acquire an idle LG Display factory in Gumi, North Gyeongsang Province, to expand production capacity for ceramic heaters and electrostatic chucks (ESCs) used in semiconductor manufacturing equipment. The company will spend 150 billion won on the land and buildings. The move is seen as a response to surging component demand as semiconductor manufacturers increase utilization rates and continue investing in new fabrication plants.
KoMiCo disclosed on Oct. 19 that its subsidiary MiCo Ceramics would acquire the land and buildings from LG Display for 150 billion won. The purchase price represents 14.56% of KoMiCo’s consolidated total assets. The acquisition is scheduled for Feb. 19, 2027. The property is an LG Display plant in Gumi that ceased operations as the company scaled back its liquid crystal display (LCD) business.
“We plan to secure the land and buildings first and utilize them in stages to expand production capacity over the medium to long term,” KoMiCo said.
Ceramic heaters, one of MiCo Ceramics’ main products, are essential components that maintain uniform wafer temperatures in chemical vapor deposition (CVD) and atomic layer deposition (ALD) equipment. ESCs use electrostatic force to hold wafers in place during etching processes. The company’s equipment utilization rate stood at 79.6% in the first half of 2026.
MiCo Ceramics has steadily expanded its production capacity. It currently operates two production facilities in Anseong, where its headquarters is located, and four in Gangneung. The company established its first Gangneung plant in 2011, followed by its second in 2017, third in 2021 and fourth in May 2025.
The fourth Gangneung plant, previously its largest investment, required a total of 65.5 billion won for factory construction and equipment installation. The Gumi acquisition alone, excluding additional equipment investment, is 2.3 times that amount.
The land area is also approximately 21 times larger than the 8,807-square-meter site of the fourth Gangneung plant. The Gumi property covers 183,565 square meters of land, with a total building floor area of 389,540 square meters. Given its size, the facility could potentially serve as a broader manufacturing hub for the MiCo Group.
MiCo Ceramics reported first-half revenue of 149.5 billion won and net profit of 48.7 billion won, up 21.1% and 46.5%, respectively, from a year earlier. Its full-year performance is also expected to remain strong.
However, the company has not disclosed how it will finance the 150 billion won acquisition or additional equipment investments. MiCo Ceramics held 28.5 billion won in cash and cash equivalents at the end of 2025.
Based on changes in subsidiary cash balances disclosed in parent company KoMiCo’s semiannual report, MiCo Ceramics’ cash and cash equivalents are estimated at approximately 62.2 billion won as of the end of June 2026. Even if the entire amount were used for the acquisition, the company would still face a shortfall of 87.8 billion won.
At the end of 2025, MiCo Ceramics had borrowings of 118 billion won and convertible bonds with a book value of 19.3 billion won. With its initial public offering (IPO) plans facing obstacles over concerns about duplicate listings, attracting financial investors (FIs) could also prove difficult.
“It is difficult to provide specific details beyond what has been disclosed,” a KoMiCo official said.