According to a Businesskorea, SK Group recently stated that it will invest 5.1 trillion won in cutting-edge materials by 2025. Among them, 700 billion won will be used for SiC wafers.

The report pointed out that SK Group is paying close attention to the SiC power semiconductor market for electric vehicles. SK Group predicts that by 2025, the utilization rate of SiC semiconductors for electric vehicles will rise from the current 30% to more than 60%, and the SiC wafer market will expand from US$218 million in 2021 to US$811 million.

The report further pointed out that SK Group plans to increase the production capacity of SiC wafers from 30,000 pieces this year to 600,000 pieces by 2025, increasing its global market share from 5% to 26%. In addition, SK Group predicts that SiC wafer business sales will reach 30 billion won in 2021, and plans to increase sales to 500 billion won by 2025.

In recent years, SK Group has been making large-scale investments in silicon carbide and power semiconductors. SK Siltron acquired DuPont’s SiC division for USD 450 million in 2019; in July of this year, SK Siltron CSS invested USD 300 million in Michigan to expand its SiC production facilities. In addition, SK Group invested 26.8 billion won in Yes Power technologies, a South Korean company that produces SiC power semiconductors, and acquired a 33.6% stake in the company in January this year.