SK siltron css Overview
SK siltron css was one of the few vertically integrated, merchant silicon carbide materials suppliers in the West. It grew 4H-SiC crystals, fabricated 150 mm conductive substrates and deposited epitaxial layers for power-device makers such as Qorvo and Infineon. It traced its technology to Dow Corning's Auburn, Michigan program. SK Siltron bought it from DuPont for about USD 450 million in 2020 as a second growth engine alongside its core 300 mm silicon wafer business. With a USD 300 million Bay County plant, a USD 544 million U.S. Department of Energy loan and strong political backing, it aimed for a top-five global position and a move to 200 mm. Instead, the electric-vehicle slowdown and a Chinese-led price collapse in SiC substrates turned the business into a large cash drain. In July 2026 SK Siltron chose to liquidate it, as part of the restructuring that preceded Doosan's acquisition of the parent.
What the company does. SK Siltron CSS manufactured silicon carbide wafers, the starting material for SiC power semiconductors such as MOSFETs and Schottky diodes. Those devices are used in EV traction inverters, on-board chargers, DC-DC converters, renewable-energy inverters, energy storage and industrial power supplies. The process ran from physical-vapour-transport crystal growth (boules) through slicing, lapping and chemical-mechanical polishing to finished substrates. On top of this sat a chemical-vapour-deposition epitaxy business that supplied wafers with device-ready drift layers.
Company's own description. The company described itself as providing the global compound semiconductor industry with a reliable source of leading-edge, production-proven, high-crystal-quality SiC wafers and epitaxy services. It said its expertise extended from crystal growth through wafer fabrication and epitaxy. It also stressed that, as a dedicated materials supplier, it did not make devices or compete with its customers, and that it was backed by the resources and purchasing power of SK Siltron. Its R&D messaging highlighted renewable-energy-powered and sustainable manufacturing.
Business model and revenue model. Revenue came almost entirely from product sales: bare substrates and epitaxial wafers sold per wafer, mostly under multi-year long-term supply agreements (LTAs) with device makers. Epitaxy was also offered as a service. There was no subscription or licensing revenue of any significance. The 2022 Qorvo contract covered both bare and epitaxial wafers. The 2024 Infineon contract covered 150 mm substrates, with a later phase to support Infineon's move to 200 mm.
Value-chain position. The company sat at the most capital-intensive and yield-sensitive step of the SiC chain: crystal growth and substrate fabrication. That step accounts for a large share of the cost of a finished SiC MOSFET. Its customers are integrated device manufacturers (IDMs), fabless-plus-foundry device firms and epitaxy houses. Within SK Group the business was intended to anchor a SiC value chain that also included SK Powertech (formerly Yes Power Technix), a SiC power-device designer acquired by SK in 2022, and SK Siltron's own SiC wafering and epitaxy line at Gumi Plant 2 in Korea. SK Siltron described this as a Korea-U.S. dual production system: crystal growth in Michigan, with wafering and epitaxy in Michigan and Gumi.
Customer types. Customers were power-semiconductor IDMs in Europe and the U.S. (Infineon named; others not publicly disclosed), U.S. SiC FET suppliers (Qorvo, through its UnitedSiC unit) and automotive-oriented power-module makers. Korean reporting describes the customer base as mainly overseas automotive power-semiconductor manufacturers.
End-markets served. Battery-electric vehicles were the dominant driver. Industrial drives, solar and wind inverters, energy storage and fast EV chargers were secondary. The company and the DOE said its wafers could extend EV driving range by about 7.5% compared with silicon-based power electronics. Qorvo cited 5–10%. The company also said one 150 mm wafer yields about 450 power chips, enough for the power systems of up to eight EVs.
Independent characterisation. SK Siltron CSS was a subscale merchant substrate supplier caught between two forces. On one side were vertically integrated Western leaders: Wolfspeed, Coherent, and onsemi and STMicroelectronics with captive supply. On the other were rapidly scaling, state-supported Chinese producers such as TanKeBlue and SICC, which drove 150 mm prices down sharply from 2023. The technology was credible, with decades of Dow Corning heritage and published work on ultra-thick epitaxy and larger-diameter growth. But revenue never got close to the scale needed to absorb the fixed costs of the Bay City expansion. The business peaked at about KRW 105 billion of revenue in 2024 against an operating loss of KRW 108 billion. In 2025, revenue fell 73% and the loss doubled.
Strategy
Stated strategy themes (2021–2025).
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"Transforming the world through sustainable compound semiconductor solutions": a vision of materials for electrification made with renewable energy.
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Vertical integration from crystal growth to epitaxy, as a dedicated materials supplier that does not compete with its customers.
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Scale-up: SK Siltron set a goal of roughly 10 times 2021 SiC capacity by 2025, a target 25% market share, and a top-two position within three years of both the Bay City and Gumi plants reaching full operation (2022 statements). The DOE described the expanded plant as likely to rank among the top five SiC wafer makers worldwide.
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200 mm transition: 8-inch R&D from 2022, a mass-production target of H2 2024 later moved to 2025, and the August 2025 messaging that "SK Siltron CSS is ready with its 200mm capacity expansion."
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Domestic supply-chain resilience: positioned as a U.S. source of a critical EV material, aligned with the CHIPS-era and Inflation Reduction Act policy environment.
Strategic initiatives in the last 24 months.
DOE ATVM loan-funded Bay City build-out: Date: Conditional Feb 2024; closed Oct–Nov 2024; Detail: USD 544 million to add up to 200 jobs (450 total) by 2027; Outcome: Loan repaid in July 2026 before full build-out
Infineon LTA and 200 mm support: Date: Jan 2024; Detail: 150 mm supply with a later 200 mm phase; Outcome: Ended with liquidation
Cost restructuring: Date: 2025; Detail: Partial site shutdowns and workforce reductions; Outcome: Insufficient; segment loss still doubled
200 mm commercialisation: Date: 2025; Detail: Capacity readiness marketed to IDMs; Outcome: No volume ramp disclosed
Liquidation of the SiC segment: Date: Board resolution 16 Jul 2026; Detail: Wind-down of Michigan operations, repayment of state support, dissolution of the subsidiary within 2026; Outcome: In progress
Medium-term targets. The DOE project schedule targeted completion of the Bay City expansion by 2027. No targets survive the liquidation. The successor parent's targets apply only to the silicon business: about KRW 3 trillion of SK Siltron revenue by 2031 and more than 7% annual growth.
Products & Services
All products sat within the single SiC wafer business.
Named flagship offerings: the company did not use public brand names for its wafers. All products were withdrawn with the closure of the Bay County site in September 2026.
Product Portfolio
| Product / service | Description | Key specifications / capabilities | Target customer | Launch / latest version | Pricing model |
|---|---|---|---|---|---|
150 mm (6-inch) N-type 4H-SiC substrates | Conductive single-crystal substrates for vertical power devices | Production-proven high crystal quality; the core volume product at Auburn and Bay City; supplied to Infineon under the 2024 LTA | Power IDMs (MOSFETs, Schottky diodes) | Volume production at Auburn since the DuPont era; Bay City ramp from late 2022 | Per wafer under multi-year LTAs; prices not publicly disclosed |
150 mm SiC epitaxial wafers | CVD-grown drift and buffer layers on in-house substrates | Standard epitaxy for 650 V–1,700 V devices. R&D-demonstrated ultra-thick epitaxy of 60–200 µm on 150 mm for >5 kV devices, with 95–98% total usable area after polishing at 100 µm and 200 µm. | Device makers without in-house epitaxy; Qorvo (bare and epi) | Ongoing; thick-epi results published by Bay City staff (Solid State Phenomena, vol. 393) | Per wafer / LTA; not publicly disclosed |
Epitaxy services | Toll epitaxy on customer-supplied or company substrates | Single-wafer CVD reactors at Bay City | Fabs and epi-light customers | Ongoing until wind-down | Service fee; not publicly disclosed |
200 mm (8-inch) SiC substrates and epiwafers | Next-generation larger-diameter wafers for lower die cost | R&D began in 2022 with a mass-production target of H2 2024, later restated as 2025. In August 2025 the company said 200 mm capacity was ready. Part of the Infineon 200 mm transition support. | Infineon and other IDMs moving to 200 mm | Sampling and qualification stage; volume production not publicly disclosed | — |
Larger-diameter crystal-growth development | Process work to increase wafer diameter and growth rate | Auburn R&D reported growth-rate gains while keeping resistivity uniformity comparable to commercial 150 mm product (Materials Science Forum, vol. 1062) | Internal roadmap | Research | Not applicable |
Sustainability-positioned wafers | Marketing of wafers made with renewable-energy power and sustainable practices | Claimed environmental attributes; no product-level carbon figures published | ESG-focused automotive supply chains | 2022–2025 | — |
“—” = not publicly disclosed.
Financial Narrative
SK Siltron CSS publishes no standalone financial statements. The figures below come from SK Siltron's audited consolidated reports filed with Korea's DART system, as analysed by Korea Investors Service (KIS), Korea Ratings, NICE Investors Service and the Korean financial press. Currency is KRW billions unless stated. "SiC segment" refers to the SK Siltron USA / SK Siltron CSS business.
Income statement
Gross profit, pre-tax income, EPS and dividends are not publicly disclosed for the subsidiary. As an LLC wholly owned by SK Siltron USA, it has no per-share data and paid no public dividends.
Revenue CAGR. From FY2022 to FY2024 the segment grew at a 66.6% compound annual rate (KRW 37.7 billion to KRW 104.6 billion). From FY2022 to FY2025 the CAGR was -9.1%, because 2025 revenue collapsed. Over the full period of SK ownership, revenue grew about tenfold from the 2020 acquisition level to the 2024 peak, but losses grew roughly in proportion.
Commentary. The P&L shows a business that scaled volume but never reached operating breakeven at any revenue level. Even at the 2024 peak, each won of revenue carried about one won of operating loss. That reflects the fixed-cost burden of the Bay City plant (depreciation, staffing for a 450-person target) running at a fraction of design capacity, together with 150 mm price erosion. TrendForce estimates global N-type SiC substrate revenue fell 9% in 2024 despite higher shipments. The 2025 inflection was severe. Revenue fell 73% as EV-related customers cut orders and inventories. The company booked large inventory valuation losses, and the operating loss doubled to KRW 214.4 billion. The KRW 414.1 billion impairment in FY2025 (goodwill KRW 334.4 billion, PP&E KRW 50.3 billion, other intangibles KRW 28.8 billion, right-of-use assets KRW 0.7 billion) effectively wrote off the goodwill from the DuPont purchase. With financing costs, it pushed SK Siltron to a consolidated pre-tax loss of KRW 254.8 billion and a net loss of KRW 293.6 billion. In Q1 2026 the segment generated KRW 3.0 billion of revenue against a KRW 54.1 billion operating loss. In effect, it had stopped functioning as a commercial operation before the July 2026 liquidation decision.
Balance sheet
Cash, the short/long debt split, working capital and goodwill at subsidiary level beyond the items above are not publicly disclosed. At the SK Siltron level, consolidated intangible assets fell from KRW 610 billion at end-2024 to KRW 237.2 billion at end-2025, mainly because of the SiC write-down.
Debt. The principal external debt specific to SK Siltron CSS was the DOE ATVM direct loan: USD 544 million in total, made up of USD 481.5 million of principal and USD 62.5 million of capitalised interest, closed in October–November 2024. The company states the loan was repaid in full in early July 2026, with SK Siltron providing the funds. A Citibank mortgage on the Monitor Township site was released on 13 July 2026. Michigan Business Development Program support of USD 1.5 million is being repaid in four USD 160,000 instalments. After the first instalment in June 2026, USD 480,000 remained outstanding.
Commentary. The balance sheet halved in 2025 through impairments and losses. By March 2026 liabilities were 92% of assets, so the remaining book equity was thin. The parent committed to fund all obligations before dissolution. Rating agencies have warned that further impairments on remaining inventory and fixed assets during liquidation are possible. Any disposal gain above book value is shared with SK Inc. under the Doosan SPA.
Cash flow and capital expenditure
Operating cash flow, free cash flow, dividends and buybacks for the subsidiary are not publicly disclosed. A negative EBITDA of about KRW 60 billion in 2024, together with heavy expansion capex, implies that free cash flow was strongly negative in every year of SK ownership, with the parent funding the gap.
Ratios
ROE, ROA and ROIC are deeply negative for the subsidiary but not publicly disclosed as figures. The same applies to current ratio, interest coverage, asset turnover and the cash conversion cycle. The parent-level leverage shown above was well past the downgrade triggers set by Korea Investors Service: EBITDA/revenue below 30% and net debt/EBITDA above 3x. The SiC losses were a major cause.
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View Subscription PlansFinancial Detail
Results by Segment
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
SiC segment operating profit (KRW Bn) | -52.8 | -72.1 | -90.6 | -108.3 | -214.4 |
Revenue by Segment and Segment Margins & Growth (%)
| Metric | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
SiC segment revenue (KRW Bn) | 37.7 | 66.8 | 104.6 | 28.3 |
SiC segment operating margin (%) | -191.3 | -135.6 | -103.5 | -757.6 |
SiC segment revenue growth YoY (%) | — | 77.2 | 56.6 | -72.9 |
Revenue by Segment and Segment Margins & Growth (%) (Quarterly)
| Metric | Q1 2025 | Q1 2026 |
|---|---|---|
SiC segment revenue (KRW Bn) | 6.2 | 3.0 |
SiC segment operating profit (KRW Bn) | -63.5 | -54.1 |
SiC segment operating margin (%) | -1,024.2 | -1,803.3 |
Revenue by Segment (%) and Revenue by Segment
| Metric | FY2024 | FY2025 |
|---|---|---|
SiC share of SK Siltron revenue (%) | 4.9 | 1.4 |
SK Siltron consolidated revenue (KRW Bn) | 2,127 | 2,057.5 |
SK Siltron consolidated operating profit (KRW Bn) | 315.5 | 193.1 |
Key Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
Operating profit, SiC segment (KRW Bn) | -52.8 | -72.1 | -90.6 | -108.3 | -214.4 |
Income Statement and Margin Analysis (%)
| Metric | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
Revenue, SiC segment (KRW Bn) | 37.7 | 66.8 | 104.6 | 28.3 |
Operating margin, SiC segment (%) | -191.3 | -135.6 | -103.5 | -757.6 |
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View Subscription PlansIncome Statement
| Metric | FY2024 | FY2025 |
|---|---|---|
EBITDA, SK Siltron CSS (KRW Bn) | -60 | — |
Net income, SK Siltron USA (KRW Bn) | — | -649.8 |
SiC-related impairment charges recognised by SK Siltron (KRW Bn) | 0 | 414.1 |
Balance Sheet
| Metric | FY2024 | FY2025 |
|---|---|---|
Total assets, SK Siltron USA consolidated (KRW Bn) | 1,489.8 | 793.5 |
Item (31 March 2026) | KRW bn | — |
Total assets, SK Siltron USA consolidated | 796.6 | — |
Total liabilities, SK Siltron USA consolidated | 730.7 | — |
Implied equity, SK Siltron USA consolidated | 65.9 | — |
Tangible, intangible and right-of-use assets | 560.1 | — |
Trade receivables and inventories | 153.4 | — |
Remaining SiC goodwill | 0 | — |
Financial Analysis
| Item | Value |
|---|---|
Cumulative investment in the SiC business after acquisition | About USD 640 million (industry estimate cited by KIPOST, 2025); KED cites USD 630 million over six years across Bay City and Gumi |
Bay City expansion programme (2021–2025) | USD 300 million announced in July 2021 (USD 302 million in Michigan filings) |
SK Siltron consolidated capex | About KRW 900 billion a year on average in 2022–2024; KRW 631.5 billion in 2025 as Gumi infrastructure and SiC expansion neared completion |
Margin Analysis (%) and Financial Ratios (x)
| Metric | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
Operating margin, SiC segment (%) | -191.3 | -135.6 | -103.5 | -757.6 |
Revenue growth, SiC segment (%) | — | 77.2 | 56.6 | -72.9 |
Metric (SK Siltron consolidated, 31 Mar 2026) | Value | — | — | — |
EBITDA / revenue (%) | 16.8 | — | — | — |
Net debt / EBITDA (x) | 8.6 | — | — | — |
Group Entities
| Entity | Agency | Rating | Outlook / status | Date |
|---|---|---|---|---|
SK Siltron Co., Ltd. | Korea Investors Service | A+ (bonds), A2+ (CP) | Under review for downgrade | Aug 2026 |
SK Siltron Co., Ltd. | Korea Ratings | A+ | Under review for downgrade (negative) | 3 Aug 2026 |
Doosan Corp. (acquirer) | Korea Investors Service | BBB+ | Positive | Aug 2026 |
SK Inc. (seller) | Korea Ratings | AA+ | Stable | Aug 2026 |
SK Siltron CSS, LLC | Moody's / S&P / Fitch | Not rated | — | — |
Analyst Conclusions
Management guidance. The only operative guidance is the wind-down plan: cease operations (done, September 2026), repay all federal and state obligations (DOE done; Michigan in progress), dispose of assets, and dissolve the subsidiary within 2026. No revenue guidance exists. The successor parent targets about KRW 3 trillion of silicon-wafer revenue by 2031 and has no stated plans in SiC.
Consensus expectations. None for the subsidiary.
Bull-case arguments (residual value).
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Unencumbered, modern U.S. asset base. With the DOE loan and Citibank mortgage cleared, the KRW 560.1 billion of fixed, intangible and ROU assets (March 2026) can be sold free of liens. The SPA's gain-sharing clause aligns SK and Doosan on maximising proceeds.
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Strategic scarcity of non-Chinese SiC capacity. Chinese suppliers held more than a third of 2024 substrate revenue and Wolfspeed went through restructuring. Western IDMs that multi-source, Infineon among them, could value U.S. crystal-growth equipment, IP and trained staff.
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Long-run SiC device growth. Inverter installations grew 19% in Q2 2025 and SiC is spreading into AI data-centre power and grid applications, which could support demand for the site or its tools over time.
Bear-case arguments.
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Further write-downs. Rating agencies flag possible additional impairments on remaining inventory and fixed assets, and used SiC tools sell into a market already in oversupply.
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No going-concern buyer. Six years of continuous losses (KRW 538.2 billion of cumulative segment operating losses from 2021 to 2025) and a -757.6% margin in 2025 make a restart economically unattractive without a large captive customer.
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Political and contractual exit costs. Incentive clawbacks, customer LTA terminations and the reputational cost of closing a high-profile subsidised plant may reduce net recoveries.
Key catalysts and monitorables (next 12 months).
Sale or repurposing of the Bay City facility: Expected timing: Late 2026 – 2027; What to watch: Buyer identity, price versus book, job commitments
Disposal of equipment and IP: Expected timing: Late 2026 – 2027; What to watch: Whether a Western SiC maker buys the Dow Corning/DuPont technology
Formal dissolution of SK Siltron CSS, LLC: Expected timing: Targeted within 2026; What to watch: Final liquidation losses booked by SK Siltron
Completion of Michigan incentive repayments: Expected timing: 2026–2027; What to watch: Remaining USD 480,000 MBDP instalments; abatement settlements
Closing of Doosan's acquisition of SK Siltron: Expected timing: Expected 31 Jan 2027; What to watch: Regulatory approvals; any adjustment for SiC liquidation costs; Chey Tae-won's 29.4%
SK Siltron rating actions: Expected timing: At deal close; What to watch: Whether removal of SK Group support leads to a downgrade from A+
SK Siltron FY2026 audit report: Expected timing: Q1 2027; What to watch: Final SiC losses and disposal gains or losses
Analyst verdict. SK siltron css is a case study in an industrial-policy-era bet that met a cyclical and structural downturn at the same time. The 2020 purchase of DuPont's SiC business for about USD 450 million was strategically coherent. It gave Korea's only silicon-wafer maker a credible, U.S.-based entry into the fastest-growing compound-semiconductor material, backed by Dow Corning-era know-how and later by Qorvo and Infineon contracts. Execution on capacity was real: a new Bay County plant, a doubled workforce, a USD 544 million federal loan and a 200 mm roadmap.
The economics never worked. The segment lost money in every year of SK ownership, and even at its 2024 revenue peak of KRW 104.6 billion its operating loss was larger than its sales. Three forces made the position untenable. Chinese producers drove 150 mm substrate prices down. Western device makers in-sourced crystal growth. And EV demand in the company's core markets stalled. In 2025 revenue fell 73%, the operating loss doubled to KRW 214.4 billion, and SK Siltron wrote off KRW 414.1 billion, including all goodwill. Once the parent itself was put up for sale, the SiC unit became an obstacle: Doosan wanted the AI-driven silicon business, not a cash-consuming SiC operation.
The way the exit was handled deserves credit. The federal loan was repaid in full before the closure, state incentives are being returned, and the parent is funding the wind-down, so taxpayers face little direct loss. For Bay County, though, the outcome is a sharp reversal: about 140 jobs gone and a modern fab without a tenant. The remaining questions are about salvage value: who buys the plant, the tools and the IP, and at what price relative to the remaining book value. For the wider SiC industry, the closure further thins non-Chinese merchant substrate capacity. For investors, it shows that policy support does not offset weak unit economics.
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View Subscription PlansExecutive Leadership
Executive Leadership Team
| Name | Title | Tenure | Prior roles | Education |
|---|---|---|---|---|
Dr. Seungho Pi | Chief Executive Officer | February 2024 – wind-down | Career at SK hynix from 1995, leading projects to overcome DRAM scaling limits; about 100 patents across several countries | BS 1989; MS 1991 and PhD 1995, KAIST |
Dr. Jianwei Dong | Chief Executive Officer (former) | 2019/2020 – early 2024 | Led the business through the DuPont carve-out, the Bay City build and the Qorvo and Infineon LTAs | PhD (field not publicly disclosed) |
Edward Sanchez | Chief Operating Officer and Chief Technology Officer (Operations and Technology) | 2019 – wind-down | More than 17 years at Dow Corning in R&D, manufacturing and leadership of the SiC business; moved with the unit through Dow and DowDuPont | Research scientist background; degree details not publicly disclosed |
Edward Chen | Vice President, Commercial (global sales, marketing and applications) | To 2026 | Sales leadership at GE Aerospace and Wolfspeed for SiC MOSFETs, diodes and modules | — |
“—” = not publicly disclosed.
Major Shareholders
| Shareholder of SK Siltron Co., Ltd. | Shares | Stake (%) |
|---|---|---|
SK Inc. (direct) | 34,181,910 | 51.0 |
SK Inc. (indirect, via total-return-swap special-purpose company) | 13,140,440 | 19.6 |
Chey Tae-won (SK Group chairman) | — | 29.4 |
Total | — | 100.0 |
Competitive Landscape
Key Competitors
| Competitor | Country | Model | Relevance to SK Siltron CSS |
|---|---|---|---|
Wolfspeed | USA | Vertically integrated substrates, epi and devices; 200 mm leader | Largest substrate supplier (33.7% of 2024 N-type substrate revenue); Chapter 11 restructuring in 2025 |
SICC (Shandong Tianyue) | China | Merchant substrates; leader in 8-inch | 17.1% share in 2024; low-cost 150/200 mm supply to Infineon and others |
TanKeBlue | China | Merchant substrates | 17.3% share in 2024; largest domestic supplier to China's power-electronics market; also supplies Infineon |
Coherent (formerly II-VI) | USA | Substrates and epi; 200 mm | 13.9% share in 2024; Infineon and Mitsubishi supplier |
Resonac (formerly Showa Denko) | Japan | Epitaxial wafers and substrates | Infineon multi-year supplier; strong epi position |
SiCrystal (ROHM) | Germany/Japan | Captive and merchant substrates | Supplies ROHM and STMicroelectronics |
STMicroelectronics (Norstel) | Italy/Sweden | Captive substrates for in-house devices | Largest SiC device maker; in-sourcing reduces the merchant market |
onsemi (GT Advanced Technologies) | USA | Captive crystal growth | In-sourcing reduces the merchant market |
Sanan Optoelectronics | China | Integrated substrates and devices | Chinese capacity build-out |
Epiworld International | China | Merchant epitaxy | Competitor in SiC epitaxial wafers |
Soitec (SmartSiC) | France | Engineered substrates | Alternative substrate technology |
Market Share by Competitor
| Company | 2024 substrate revenue share (%) |
|---|---|
Wolfspeed | 33.7 |
TanKeBlue | 17.3 |
SICC | 17.1 |
Coherent | 13.9 |
SK Siltron CSS (implied from KRW 104.6 billion segment revenue, about USD 77 million, against a USD 1.04 billion market) | 7.4 |
