SK Inc. to sell sole wafer maker SK Siltron to Doosan

SK Inc. announced it will sell its 70.6 percent stake in semiconductor wafer maker SK Siltron to Doosan in a deal valued at approximately 2.3 trillion won ($1.61 billion).

While the final transaction value is estimated at around 2.3 trillion won, the exact amount will be confirmed after further adjustments.

SK Inc. and Doosan each approved a share purchase agreement for the sale of SK Siltron at separate board meetings Friday.

SK Inc. said it decided to sell the semiconductor wafer maker to strengthen SK Group's financial stability and secure funding for investments in new businesses.

SK Siltron was founded in 1983, and is Korea's only semiconductor wafer manufacturer. Since SK Inc.'s buyout of SK Siltron in 2017, it has grown into a key company in the group's semiconductor value chain.

Semiconductor wafers are thin circular discs that serve as the substrate for integrated circuits and are considered one of the industry's core materials.

SK Group Chairman Chey Tae-won is SK Siltron's second-largest shareholder with a 29.4 percent stake. A decision on the future of his stake is also expected soon.

BY LEE TAE-HEE [[email protected]]