► South Korea Semiconductor Parts Industry Overview
South Korea semiconductor parts industry has demonstrated significant growth, as the AI-led new growth engine led “Super Cycle” for overall semiconductor sectors.
According to analysis by QYResearch Korea, South Korea semiconductor parts industry revenue reached KRW 9.754 trillion in 2024, marking a 12.5% year-on-year increase. It is based on the data from 33 domestic semiconductor component manufacturers.
This growth is attributed to a combination of the base effect following the industry downturn in 2023 and the benefits derived from the rapid expansion of the AI semiconductor sector. The upward trend has continued into 2025, with double-digit growth projected to remain achievable.
The following is an overview of the semiconductor parts and manufacturers by semiconductor manufacturing process.
<Photolithography Process>
- Products : Blank Masks, Pellicles, Photomasks
- Manufacturers : FST, S&S Tech
<Etching Process>
- Products : Focus Rings, Rings, Quartz Ware, Electrodes, Heater Blocks, Suspectors
- Manufacturers : Mecaro, KNJ, TCK, BCNC, Wonik QnC, Hana Materials, Worldex, FineOne
<Test Process>
- Products : Probe Cards, Test Sockets, Burn-in Sockets, Probe Card PCBs, STFs (Space Transformers)
- Manufacturers : SEMCNS, TSE, Tiger Elec, ISC, Will Technology, Okins Electronics, LEENO Industrial
<Packaging Process>
- Products : FCCSP, FCBGA, FCBOC, SiP, CSP
- Manufacturers: Samsung Electro-Mechanics, LG Innotek, Simmtech, Korea Circuit, Daeduckv Electronics
► High-Growth Performers : 21 Companies
QYResearch Korea identified 21 companies as "High Growth Companies" defined as those achieving a year-on-year revenue growth rate of more than 8% in 2024 and examined the key drivers behind their performance. Notably, these companies sustained their growth momentum through the first half (H1) of 2025.
KC Parts Tech, SEMCNS, Mecaro, TSE, KOMA Technology, FineOne, MKP, KNJ, FST, Tiger Elec, ISC, LG Innotek, TCK, BCNC, Samsung Electro-Mechanics, S&S Tech, Okins Electronics, Simmtech, Will Technology, Wonik QnC, LEENO Industrial
A common factor behind the strong growth achieved by leading domestic semiconductor parts companies is increase in semiconductor production not only in Korea but also in China and Taiwan. Importantly, this growth is not limited to volume expansion but is accompanied by qualitative improvements. Specifically, the AI-led trend toward process miniaturization and higher complexity in semiconductor manufacturing is driving the demand for high-specification components.
In the photolithography process, demand for blank masks and pellicles has increased as Chinese semiconductor manufacturers expand investments in advanced processes. As a result, Korean suppliers such as FST and S&S Tech are seeing broader adoption of their products. Chinese foundries, including SMIC, are expanding their domestic advanced-node production capabilities in response to U.S. sanctions. In particular, they are developing alternative processes based on DUV lithography to partially circumvent EUV constraints, while actively investing in new fabs focused on advanced manufacturing nodes.
In the etching process, ring components are rapidly transitioning from conventional silicon materials to more durable silicon carbide (SiC). This shift has enabled companies such as KNJ and TCK to expand their market presence. Mecaro, a manufacturer of metal heater blocks, has also increased exports amid rising investment in memory semiconductor equipment in China, securing Chinese semiconductor equipment makers such as NAURA as key customers.
Components used in the testing process including probe cards, sockets, and STF are also benefiting from favorable market conditions. As demand expands from NAND-centric applications to DRAM products, related product portfolios and supply chains are broadening. In the test components segment, many South Korean companies including SEMCNS, TSE, Tiger Electronics, ISC, Will Technology, Okins Electronics, and Leeno Industrial are demonstrating strong performance.
In the packaging process, package substrates have emerged as the core growth driver. Companies such as Samsung Electro-Mechanics and LG Innotek are expanding the supply of BGA substrates for PCs and smartphones, while also increasing their presence in high-value-added segments such as AI/server and automotive FC-BGA substrates.
