[Click eStock] "Semiconductor Equipment Companies See Intensified HBM Competition as an Opportunity"

On the 18th, KB Securities analyzed that the intensifying competition in high-bandwidth memory (HBM) among domestic and international companies presents an opportunity for Korean semiconductor equipment manufacturers.

Researcher Park Ju-young stated, "Recently, HBM makers have been expanding their competitiveness," adding, "The intensifying HBM competition is expected to act as an opportunity factor for Korean equipment manufacturers."

All three HBM makers can be supplied by equipment manufacturers such as PSK Holdings, Techwing, and Hanmi Semiconductor. Researcher Park said, "PSK Holdings is the absolute leader in dry cleaning equipment and is expected to supply discom equipment that cleans the 1,024 via holes formed through the TSV process to all three HBM makers this year."

He continued, "Techwing was the first to develop a cube prober capable of full inspection of packaged HBM dies," and analyzed, "They are preparing to supply all three HBM makers, and a factory capable of producing 30 units per month will be completed by the end of June, with initial shipments expected from the end of this year."

Regarding Hanmi Semiconductor, he noted, "It is the only TC bonder equipment manufacturer supplying two of the three HBM makers," adding, "By exclusively supplying TC bonders for HBM3E to SK Hynix and Micron, it has proven its competitiveness in memory TC bonders. As HBM3E competition intensifies, the possibility of expanding Hanmi Semiconductor's customer base is expected to grow."

As the importance of test processes contributing to yield improvement increases, the performance of related companies is also expected to grow. Currently, the semiconductor back-end test value chain consists of three parts: wafer test, package test, and module test.

Researcher Park said, "As HBM supply increases, securing cost competitiveness for manufacturers becomes important, and the importance of test processes directly contributing to yield improvement is increasing," adding, "In particular, demand for wafer tests for HBM, modified from DDR5 wafer tests, is increasing, which is expected to benefit related companies."

He identified YIK and DI as beneficiaries of HBM wafer testing. He said, "YIK is the only domestic wafer test company, and Samsung Electronics' DRAM wafer tests are conducted by YIK (DDR5) and Advantest (HBM)," adding, "YIK completed the development of HBM wafer test equipment in the first quarter, and revenue recognition is expected from the fourth quarter, projecting benefits from Samsung Electronics' HBM capacity expansion."

He further added, "DI's subsidiary Digital Frontier is preparing to supply burn-in test equipment for HBM wafer testing," and "It is expected to take some of Advantest's volume within SK Hynix."