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SKC(KRX: 011790), the leading South Korean chemical and materials company, aims to hit 10 trillion won (approximately 7.25 billion USD or approximately 52.6 billion RMB) in sales by 2027, driven by its semiconductor glass substrates (via subsidiary Absolics) and copper foil for secondary batteries (via subsidiary SK Nexilis).

Glass substrate produced by Absolics

According to SNE Research, SK Nexilis led the global copper foil market with a 22% share in 2022, outpacing competitors like China's Watson (19%), Taiwan's Chang Chun (18%), and Lotte Energy Materials (13%). U.S. export regulations on China could further boost its market share. The company's growth is fueled by rising demand for EVs and its technological edge in lightweight, high-capacity batteries.

In August, SK Nexilis secured a contract to supply all copper foil for German battery maker Varta. Earlier, it signed a 1.4 trillion won (approximately 1 billion USD or approximately 7.4 billion RMB) deal with Northvolt, Europe's largest battery manufacturer. Both contracts last over five years, strengthening its market position.

The glass substrate business is also promising, fueled by the growing AI semiconductor market. Absolics is ramping up production, having completed a plant in Georgia, USA, and plans to start customer testing later this year. SKC aims to commercialize glass substrates by 2025, ahead of Intel's 2030 target.

Analysts expect these ventures to drive SKC's sales to 11 trillion won by 2027, with interim goals of 7.9 trillion won (approximately 5.7 billion USD or approximately 41.5 billion RMB) by 2025. Industry insiders believe that the growth in AI, data centers, and EV batteries makes the 10 trillion won target achievable.

Editor：Lulu

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