[THE INVESTOR] SK announced on Jan. 23 that it has decided to acquire 51 percent stake in wafer manufacturer LG Siltron for 620 billion won (US$531.05 million).
The LG affiliate is the country’s sole manufacturer of wafers, a key raw material for semiconductor chips, and is the fourth-largest manufacturer of 300mm wafers in the world as of 2016.
SK has been expanding into semiconductor materials business since last year when it acquired OCI Materials -- now renamed SK Materials -- the global leading supplier of specialty gas nitrogen trifluoride.
LG also reported the deal in its regulatory filing on the same day, saying that it has sold its non-core business to secure funds to nurture new growth businesses.
By Hwang You-mee (glamazon@heraldcorp.com)