SKC said on Thursday it decided at a board meeting to participate in a shareholder rights offering pursued by Absolics and invest 281 billion won in cash. SKC plans to acquire 192,416 new shares allocated in line with its 70.05 percent stake.

The participation follows SKC’s 1.17 trillion won rights offering carried out in the first half of this year. SKC has presented a plan to invest 590 billion won of the funds raised through the offering into its glass substrate business over the next three years.

The investment is the first disbursement of funds under that decision. SKC plans to inject the remaining resources in stages in line with business progress.

Absolics is accelerating preparations to commercialise glass substrates that use glass as a substrate material to improve semiconductor packaging performance. Its embedding products, which embed semiconductor chips into substrates, have completed a preliminary evaluation of samples produced at its Georgia plant in the United States and are undergoing reliability evaluation.

Its non-embedding products, which do not embed chips, are participating in tasks to select suppliers in the second half and are proceeding with steps aimed at entering the PoC stage of technical verification within this year. Absolics plans to build a mass production system while conducting customer verification for each product and improving yield and quality competitiveness.

An SKC official said, "This investment is the first step toward connecting the resources secured in the first half to actual business results." The official said, "We will continue to inject planned funds in stages to accelerate preparations for mass production and, through close cooperation with strategic partners, firmly establish technological leadership in the next-generation semiconductor packaging market."