[Click eStock] "CoAsia Registers Samsung Foundry DSP... Expected to Strengthen Design House Capabilities"

[Asia Economy Reporter Hyunseok Yoo] Kiwoom Securities analyzed on the 8th that KoAsia is expected to strengthen its design house capabilities with its registration as a Samsung Electronics Foundry DSP (Design Solution Partner). No investment opinion or target price was provided.

KoAsia was listed on the Samsung Electronics Foundry website's DSP (Design Solution Partner) list the day before. It is the 12th DSP registration following six overseas and five domestic companies that were previously DSPs.

Donghee Han, a researcher at Kiwoom Securities, said, "This is the first case of a VDP (Virtual Design Partner) becoming a DSP. Generally, VDP covers basic spec design and GDSII (industry-standard DB file format for IC data exchange) conversion (Logic design, Design for Test, Placement & Routing, etc.), whereas DSP is a higher-level concept that can provide comprehensive services excluding the foundry manufacturing process such as order receipt, ASIC (Application-Specific Integrated Circuit) design, supply chain outsourcing operation, wafer and chip supply." He added, "Since establishing KoAsia Semi (Hong Kong) last year, they have added semiconductor R&D business objectives, invested in SemiHow (Super-junction power semiconductors), acquired Nexel (Samsung System LSI SoC, AP, etc. ODM), and registered as a Samsung Foundry DSP, thus shaping up as a design house."

In particular, the researcher expected that full-scale sales from the design house would begin this year. He emphasized, "Sales from the design house are expected to start this year, but considering workforce expansion and the early stage of the business, significant profit contribution is anticipated from next year. A reference is essential for a design house, and after registering as a Samsung Foundry DSP, it is expected to secure references through design services. In the mid to long term, expansion is expected not only in design services but also in design orders, supply chain outsourcing management, and wafer handling."