Hanwool Materials Science announced on the 6th that it will directly invest 8 billion KRW in the production facility for photosensitive materials (PSM).
PSM is a core material used in the patterning process across the electronic materials industry, including semiconductors, information technology (IT), and display sectors, with a global market size of approximately 1 trillion KRW. CGPMaterials (CGPM) has established cooperative relationships with global semiconductor material companies such as Japan's Nissan Chemical and Sumitomo Chemical, and having been recognized for its technological capabilities, is currently discussing specific support measures with Toyota Tsusho. In addition, through joint research with overseas companies in the US and Europe, CGPM is strengthening its technological competitiveness. The PSM production plant under construction in Sejong City recently received fire safety approval and has entered full-scale construction.
A company representative stated, "We will swiftly establish PSM production facilities domestically in cooperation with CGPM, which possesses world-class technological capabilities, and achieve stabilization of the semiconductor core material supply chain." They added, "To strengthen expertise in the semiconductor materials business and build a close cooperative system with CGPM, we plan to recruit Park Chun-geun, CEO of CGPM, and Yoon Sang-woong, Head of Technology and Quality Headquarters."
Yesterday, Hanwool Materials Science’s board of directors announced that it will hold an extraordinary general meeting of shareholders on the 17th of next month in Hwaseong City, Gyeonggi Province, to newly appoint CEO Park Chun-geun and Dr. Yoon Sang-woong as directors. CEO Park Chun-geun earned a Ph.D. in photochemistry from the University of Tokyo, Japan, and was the first overseas chemistry Ph.D. to join Samsung Electronics’ semiconductor research institute, making him a first-generation expert in domestic materials. He has also accumulated about 25 years of diverse experience as a technology and business leader in electronic materials companies such as Dongjin Semichem, Dow Chemical, and JSR.
CEO Park Chun-geun said, "I feel an immense sense of responsibility regarding my new appointment," and added, "CGPM and Hanwool Materials Science, which are at the center of the patterning core materials ecosystem, will collaborate to enter the global market."
Dr. Yoon Sang-woong is a patterning materials expert who served as a senior researcher at the University of Kent in the UK. He has a track record of developing semiconductor materials, cleaning solutions, and wet etching solutions at global companies including Samsung Electronics and Nissan Chemical.
Meanwhile, yesterday Hanwool Materials Science announced that it will acquire 17.05% of CGPM’s shares. If the existing convertible bonds held in CGPM are converted into stocks, Hanwool Materials Science will secure a controlling shareholder status with over 50% of total shares, which will be reflected in Hanwool Materials Science’s consolidated financial statements.
A Hanwool Materials Science representative emphasized, "We plan to move beyond being a simple financial investor (FI) and directly promote the semiconductor PSM and polymer business," adding, "We will strive to enhance corporate value through responsible management and grow into a global materials company."
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