SK Ecoplant Incorporates Group Semiconductor Processing and Distribution Subsidiary

Resolution on Inclusion of EssenCore and SK Materials Air Plus on the 18th

SK Ecoplant is incorporating Essencore, a semiconductor module distribution company, and SK Materials Airplus, an industrial gas company, as subsidiaries. This business restructuring is expected to secure the company's financial soundness and also gain momentum for the planned IPO (Initial Public Offering) in 2026.

According to industry sources on the 16th, SK Ecoplant will hold a board meeting on the 18th to approve the incorporation of Essencore and SK Materials Airplus.

Essencore, a SK㈜ subsidiary, procures DRAM and other products from SK Hynix, processes them into SD cards and USB devices, and distributes them. With a solid supply chain and sales network, it has maintained stable performance. Despite the semiconductor industry downturn last year, it posted an operating profit of 59.4 billion KRW.

SK Materials Airplus, a subsidiary, produces industrial gases used in semiconductor processes and supplies them to companies such as SK Hynix. Having secured reliable customers, its performance is stable, similar to Essencore.

Both Essencore and SK Materials Airplus are considered 'key companies' within the group, which is interpreted as the group’s effort to strengthen SK Ecoplant’s financial structure to support its IPO drive. SK Ecoplant, planning an IPO in 2026, recorded a net loss of 33.6 billion KRW last year, reflecting poor performance.

The industry evaluates that significant synergy effects will arise from incorporating Essencore and SK Materials Airplus. Since SK Ecoplant operates in the Engineering, Procurement, and Construction (EPC) business, incorporating SK Materials Airplus could enable business expansion by handling EPC for the company. Additionally, collaboration is possible between SK Ecoplant’s electronic waste recycling specialist subsidiary SK Tess and Essencore in collecting products.