IVWorks

About IVWorks

IVWorks is a South Korean company specializing in the development and fabrication of next-generation compound semiconductor materials, primarily Gallium Nitride (GaN) epitaxial wafers. Founded in 2011 by Young-Kyun Noh, who serves as the President and CEO, the company is located in Daejeon. Noh established the firm after earning his Ph.D. in Physics in 2013, leveraging his experience with single-crystal material growth equipment.

The company's core business revolves around manufacturing GaN epiwafers, a critical material for high-performance semiconductors used in RF and power electronics. These materials are essential for applications such as 5G/6G mobile communications, EV power converters, high-speed chargers, AI power delivery for GPUs and HBMs, and defense industry radar systems. IVWorks serves a global client base that includes leading semiconductor foundries and integrated device manufacturers (IDMs). The business model involves both selling standardized epiwafer products and providing original design manufacturer (ODM) services. A key technological differentiator for the company is its proprietary artificial intelligence epitaxy platform, DOMM™, which integrates a deep-learning algorithm into the production process for real-time monitoring and quality control, maximizing productivity.

IVWorks has achieved several significant milestones. It was the first Korean company to produce GaN epiwafers and has developed capabilities for 4-inch, 6-inch, 8-inch, and is preparing for 12-inch wafer production. A notable development is its proprietary 'reGaN' technology, a selective-area regrowth technique that reduces contact resistance in GaN devices, significantly enhancing performance and efficiency. In 2022, IVWorks acquired the GaN wafer business from the French materials company Saint-Gobain, securing advanced technology for mass production. More recently, the company announced the successful mass production of 8-inch GaN nanowire epiwafers, a technology foundational for artificial photosynthesis panels aimed at green hydrogen production.

The company has secured substantial funding over several rounds, with a cumulative investment of approximately $33 million as of April 2026. It is currently preparing for an initial public offering (IPO) on the KOSDAQ market, with Korea Investment & Securities as the lead underwriter.