Claims that Hanmi Semiconductor and SK Hynix, which have maintained an 8-year alliance supplying semiconductor equipment such as TC bonders, are moving towards a complete separation have been dismissed as “groundless” by both companies.
SK Hynix stated on April 28 that claims about the company diversifying its thermal compression bonder (TC bonder) suppliers beyond Hanmi Semiconductor and initiating a review to diversify all equipment are not true.
When these claims were reported in the afternoon, both companies’ stock prices fluctuated.
Hanmi Semiconductor closed at 75,900 won, down 6,600 won (8%) from the previous day. At one point during trading, it fell below the 75,000 won mark. SK Hynix also closed down 3,100 won (1.68%).
Recently, SK Hynix decided to additionally source TC bonder equipment for high bandwidth memory (HBM) from Hanwha Semitech, which was previously supplied solely by Hanmi Semiconductor. The supply value from Hanwha Semitech is reported to be higher than that of Hanmi Semiconductor, at 42 billion won for 12 TC bonders.
In response, Hanmi Semiconductor, which had frozen prices for 8 years, demanded a price increase for HBM TC bonders and converted their free dedicated after-sales service team at SK Hynix factories to a paid service, causing some friction. A daily economic newspaper reported, “SK Hynix was greatly angered by Hanmi Semiconductor’s withdrawal of maintenance personnel and has begun measures to diversify not only TC bonders but all equipment.”
In response, both Hanmi Semiconductor and SK Hynix stated that there is “no issue” with equipment supply and that the claims are “groundless.”
Hanmi Semiconductor jointly developed the TC bonder with SK Hynix in 2017. Currently, Hanmi Semiconductor’s TC bonders are supplied to SK Hynix and Micron. Since exclusively supplying TC bonders to SK Hynix, the two companies have built a “win-win” system. Last year, Hanmi Semiconductor achieved record sales (558.9 billion won) and an operating profit margin of 45.6%, while SK Hynix solidified its global No. 1 market share in HBM using Hanmi Semiconductor’s TC bonder technology.
However, conflict arose when SK Hynix began diversifying its TC bonder vendors. SK Hynix started ordering equipment from Singapore-based ASMPT last year and recently decided to purchase 42 billion won worth (12 units) of TC bonders from Hanwha Semiech, a late entrant. Hanmi Semiconductor is currently in a legal dispute with Hanwha Semitech over TC bonder patent infringement. SK Hynix has been using only Hanmi Semiconductor equipment for its 12-layer HBM3E manufacturing process, the 5th generation HBM.
Hanmi Semiconductor reportedly objected to SK Hynix purchasing Hanwha Semitech equipment at a price about 20% higher than their own. This is said to be the reason why they increased the price of existing equipment, which had been frozen for 8 years, and recalled dozens of customer service engineers to the company.
Meanwhile, Hanmi Semiconductor announced on April 28 that it will hold an overseas corporate presentation for institutional investors in Malaysia, Hong Kong, and Singapore on May 12. The purpose is to participate in the Macquarie Asia Conference. The main content of the presentation will cover AI (HBM) market outlook, next-generation HBM4 production bonder launch roadmap (FLTCB·HB), and strategies to respond to HBM customer demand.
This corporate presentation was originally scheduled for April 22, but Hanmi Semiconductor announced on April 18 that it would be postponed to mid-May. While the company did not disclose the reason for the rescheduling, industry analysts speculated that it might be due to the conflict with SK Hynix. It was interpreted as an attempt to avoid questions about the conflict with SK Hynix during the corporate presentation.
