SEOUL– SK Inc., the holding company of South Korean conglomerate SK Group, said Wednesday it is acquiring a majority stake in a local silicon carbide (SiC) power semiconductor manufacturer as it seeks to further advance into electric vehicle component business.
SK said it is spending 120 billion won (US$94.8 million) to raise its stake in Yes Power Technix to 95.81 percent from the current 33.6 percent.
Power semiconductor works as a controller or switch to handle and withstand large currents in electric or electronic devices, such as electric vehicles, hydrogen vehicles and 5-generation communication networks.
SiC power chips are rapidly replacing silicon-based power semiconductors due to their enhanced durability, efficiency and safety in high-temperature or high-voltage environments.
Yes Power Technix, founded in 2017, is the country’s sole power semiconductor company specializing in the design and manufacture of silicon carbide power chips widely used in electric vehicles.
With the acquisition, SK is expected to bolster facility investment to tap deeper into the promising SiC power chip market.
Source: Yonhap News Agency