Suseong "Subsidiary Future Hightech Shows Strong Performance... Balanced Growth Across All Products"

[Asia Economy Reporter Hyunseok Yoo] Suseong Innovation announced on the 3rd that the semiconductor subsidiary's operating profit in the first half of the year has more than doubled compared to last year, showing favorable performance. The first half sales have already exceeded 75% of last year's annual sales.

Suseong Innovation's semiconductor subsidiary, Future Hightech, recorded sales of 9.1 billion KRW, operating profit of 900 million KRW, and net profit of 1.7 billion KRW in the first half of this year. Future Hightech posted sales of 12 billion KRW and an operating profit of 400 million KRW last year.

Kim Deokjin, CEO of Suseong Innovation, said, "Future Hightech showed balanced growth across all products including interposers, burn-in boards, and high multilayer PCBs in the first half," adding, "Sales related to Samsung Electronics and Hynix are driving the overall performance improvement."

He explained, "Core products are awaiting approval from Hynix, and sales activities for newly developed semiconductor inspection consumables have begun," and added, "There is also a special demand due to the DDR5 transition, so sales exceeding 30 billion KRW and profits over 4 billion KRW are expected next year. Additionally, there are benefits from the DDR5 transition."

Suseong Innovation entered the semiconductor business by acquiring 57.2% of Future Hightech for 10.2 billion KRW in April 2021 as part of business diversification.