SK is set to hold a board meeting on May 31 to discuss the sale of SK Siltron, following a seven-month negotiation stall with Doosan, the preferred bidder selected in December. The prolonged talks stem from a sharp rise in SK Siltron's valuation — from approximately 5 trillion won to around 7 trillion won — driven by surging wafer demand tied to AI datacenter investments.
SK Schedules Board Meeting on May 31 to Discuss SK Siltron Sale
According to industry sources on May 27, SK will convene a board meeting on May 31, with the SK Siltron sale listed as a primary agenda item. The company selected Doosan as the preferred bidder for SK Siltron, a semiconductor wafer manufacturer, in December. The transaction covers a 70.6% stake, comprising SK's 51% holding and a 19.6% total return swap (TRS) contract stake. Chairman Choi Tae-won's separate 29.4% stake, held via TRS, is expected to be negotiated after the main transaction concludes.
SK Siltron Valuation Surges to 7 Trillion Won Amid Wafer Demand Boom
SK Siltron's enterprise value has climbed from an initial estimate of around 5 trillion won to approximately 7 trillion won, reflecting a fundamental shift in market conditions since the preferred bidder selection. The revaluation follows expanded AI datacenter investments, which have driven up wafer demand and lifted global wafer manufacturer stock prices. SK Siltron ranks third globally in 12-inch wafer market share and is South Korea's sole dedicated semiconductor wafer producer.
SK's first-quarter operating profit reached 3.67 trillion won, a 760% increase year-over-year, while the number of group affiliates fell from 219 to 151 over two years as part of a corporate rebalancing effort. The company has committed approximately 400 billion won to an AI venture established by SK Hynix in the United States, maintaining ongoing capital requirements.
Sale Cancellation Speculation Emerges Amid SK's Strategic Pivot
In early May, speculation arose that SK might reconsider the sale altogether, given the company's stated vision as an "AI full-stack provider" and SK Siltron's position as a core material supplier within the semiconductor value chain. Chairman Choi stated in early May, during a meeting with reporters in Taiwan, that SK aims to double memory production capacity within five years.
However, industry observers note that canceling the sale without substantial cause could strain trust between the two parties and affect the group's credibility. Personal financial factors also remain relevant: on May 24, a court finalized Chairman Choi's divorce settlement with Roh So-young, director of Art Center Nabi, at 944 billion won. Choi's 29.4% stake in SK Siltron was valued at 750 billion won during a 2024 appellate hearing.
An industry official stated, "The prolonged SK Siltron sale process largely stems from semiconductor market conditions diverging significantly from both parties' initial expectations. Following this week's board discussion, we expect rapid progress in either direction — sale completion or strategic reassessment."
FAQ
What is SK discussing at the board meeting on May 31?
SK will discuss the sale of SK Siltron, a semiconductor wafer manufacturer, at a board meeting scheduled for May 31. The company selected Doosan as the preferred bidder in December, but negotiations have extended for seven months due to valuation changes.
Why did SK Siltron's valuation increase from 5 trillion won to 7 trillion won?
The valuation rose due to surging wafer demand driven by AI datacenter investments and a broader semiconductor industry recovery. Global wafer manufacturer stock prices have climbed, prompting a reassessment of SK Siltron's enterprise value during the negotiation period.
