SK Siltron to be sold to Doosan Group for $1.65 billion

SK Inc. has decided to sell SK Siltron, a key South Korean semiconductor wafer manufacturer, to Doosan Group for 2.3 trillion won (approximately $1.65 billion USD) as part of a broader strategy to enhance the group's financial stability and invest in new growth areas. The decision was approved by the boards of both SK Inc. and Doosan Group, paving the way for the stock purchase agreement.

The sale involves 70.6% of SK Siltron's shares. Despite recent discussions within SK Group about potentially reconsidering the sale due to a favorable semiconductor market, the company proceeded with the original plan. SK Group stated that the divestment is crucial for strengthening its financial health and enabling investments in future ventures.

Attention is now shifting to the disposition of Chairman Chey Tae-won's personal stake of 29.4% in SK Siltron. While some anticipated he might retain the shares given the rising value of semiconductor wafers and SK Hynix's need for stable supply, market observers suggest he may sell them. This potential sale could be influenced by the complexities of remaining a minority shareholder after a management handover and the significant cash payment of 944 billion won ordered by a court in a recent property division ruling with Roh Soh-yeong, head of the Art Center Nabi.

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The sale was decided to improve the group's financial stability and invest in new businesses.