Industry sources said SK Ecoplant’s board may approve its integration of SK Materials Airplus, an industrial gas company, and Essencore, a semiconductor processing and distribution unit, on Thursday.
SK Materials Airplus produces industrial gases required for semiconductor processes and supplies them to semiconductor firms such as SK hynix.
Essencore, a subsidiary of SK Materials Airplus, receives dynamic random-access memory (DRAM) supplies from SK hynix, processes them into secure digital cards and USB drives, and handles their distribution. Despite the downturn in the semiconductor industry in 2023, Essencore achieved an operating profit of 59.4 billion won ($43.6 million).
Industry observers speculate that this integration is part of a broader strategy by the SK Group to improve the financial structure of SK Ecoplant in preparation for its initial public offering. SK Ecoplant aims to go public by 2026.
SK Ecoplant, which engages in engineering, procurement and construction (EPC) projects, can take over the EPC tasks of SK Materials Airplus with its integration. This move will enable business expansion through collaboration, such as collecting products from its electronic waste recycling subsidiary SK TES and Essencore.
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