[Asia Economy Reporter Jang Hyowon] Trino Technology, a subsidiary of Sewon, announced on the 4th that it has signed an IPO underwriting agreement with Shinhan Financial Investment and has begun preparations for listing on KOSDAQ.
Trino Technology is a power semiconductor specialized company established in 2008. It mainly develops and manufactures power semiconductor devices such as MOSFET (Metal-Oxide-Semiconductor Field-Effect Transistor), IGBT (Insulated Gate Bipolar Transistor), and DIODE.
Power semiconductors are non-memory semiconductors that extend battery usage time and reduce power capacity. The market is rapidly growing as demand increases for core components of electric vehicles as well as various industrial equipment and home appliances. In the case of electric vehicles, energy efficiency is important, requiring more than twice the amount of power semiconductors compared to internal combustion engine vehicles.
Trino Technology is the only domestic company to have succeeded in the localization development of silicon carbide (SiC) automotive power semiconductors, which can reduce energy loss by up to 90% compared to conventional silicon (Si)-based power semiconductors, and has obtained the automotive standard certification AECQ-101. The power semiconductor market is led by global companies such as Germany’s Infineon and Bosch, so localization of parts can reduce costs to about one-third compared to foreign products.
Its performance in the first quarter of this year recorded sales of 5.9 billion KRW and operating profit of 1.2 billion KRW, growing by 41% and 26% respectively compared to the same period last year. Good performance is expected this year as well due to the boom in the system semiconductor industry.
A Trino Technology official said, “SiC power semiconductors have excellent characteristics that withstand high voltage and high temperature, and the application market is greatly expanding centered on electric vehicles,” adding, “We plan to actively utilize the special listing system for materials, parts, and equipment technology and aim to list as early as the second half of next year.”
Meanwhile, Sewon is the largest shareholder holding 51% of Trino Technology’s shares. The second largest shareholder, IA, which holds 10% of Trino Technology’s shares, jointly manages Trino Technology. IA and Trino Technology have established a JV (joint venture) with the government of Zhangjiagang City, China, for the development and production of power semiconductors and have built a local production line.
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