Yes PowerTechnix

About Yes PowerTechnix

SK powertech, formerly known as Yes PowerTechnix, is a pivotal player in the South Korean semiconductor landscape, specializing in the design and fabrication of Silicon Carbide (SiC) power semiconductors. Founded in 2017, the company established itself as the first in South Korea to successfully mass-produce SiC power semiconductors, a critical component for high-efficiency energy applications.

The company's trajectory was significantly altered following strategic investments from SK Inc., the investment holding company of SK Group. This relationship began in January 2021 with a KRW 26.8 billion ($24.2M) investment for a 33.6% stake and culminated in a full acquisition in April 2022, when SK Inc. invested KRW 120 billion to secure a 95.8% controlling interest. This acquisition integrated Yes PowerTechnix into the SK ecosystem, alongside SK Siltron, a SiC wafer manufacturer, creating a comprehensive domestic value chain from wafer production to chip design and manufacturing. Following the acquisition, the company was rebranded to SK powertech in March 2023 to enhance its global market presence and synergy within the SK Group.

SK powertech's core business revolves around manufacturing SiC power semiconductors, including MOSFETs and diodes, which are essential for managing and converting electrical currents efficiently. These components are designed for high-growth markets, primarily serving the electric vehicle (EV) sector, but also extending to 5G communication networks, renewable energy systems, and industrial electronics. The business model encompasses both the production of its own SiC devices and foundry services for other clients. The products offer substantial benefits over traditional silicon-based semiconductors, such as the ability to withstand voltages approximately 10 times higher and operate at extreme temperatures. This superior durability and efficiency can improve an EV's energy efficiency by around 7%. Specifically, the company has developed trench-type MOSFET technology, which allows for smaller, more cost-effective chips by arranging current channels vertically.

To meet escalating demand, particularly from the automotive industry, SK powertech has aggressively expanded its production capabilities. In March 2023, the company commenced operations at a new, larger facility in Busan, relocating from its previous plants in Pohang. This new factory is equipped to produce 150mm (6-inch) wafers and has tripled the company's production capacity, with plans for further expansion to solidify its position in a market dominated by a few international firms.