Seoul: SK Inc., the holding company of SK Group, announced it has finalized a deal to sell its 70.6 percent stake in SK Siltron Co. to Doosan Group for 2.3 trillion won (US$1.6 billion). This decision was made during a board meeting held earlier in the day, as revealed in a regulatory filing.

According to Yonhap News Agency, the sale comes after SK named Doosan as the preferred bidder in December. This decision followed evaluations based on corporate growth potential, job stability, and other acquisition conditions. Established in 1983, SK Siltron is South Korea's sole dedicated producer of semiconductor wafers, ranking third globally in market share for 12-inch wafers.

The acquisition is part of Doosan's strategy to enhance its semiconductor materials and equipment portfolio. Previously, the group acquired Doosan Tesna Inc., a chip testing company, and Engion, a chip packaging firm. Doosan plans to increase SK Siltron's revenue to approximately 3 trillion won by 2031.

SK Group's decision to sell SK Siltron aligns with its ongoing restructuring efforts to streamline its business portfolio, improve financial soundness, and secure long-term growth.