Haesung DS, a semiconductor package substrate producer, announced that it had held a ceremony to sign a stock sale contract

(SPA) to acquire overseas site in the Philippines.

The acquisition target is PSMP (PSMC PHILIPPINES), a local subsidiary of PSMC (PSMC) in the Philippines, and will be incorporated into a subsidiary of Haesung DS 100% through stake acquisition.

PSMP is a business with a lead frame production base, and Haesung DS plans to expand its product portfolio to power semiconductors that are growing rapidly in response to increased demand for automotive semiconductors such as electric vehicles and autonomous vehicles.

More than 95% of Haesung DS sales come from overseas customers, especially since major customers' semiconductor production facilities are located in Southeast Asia, there has been constant demand from customers for local infrastructure production facilities. With this acquisition, Haesung DS expects to expand its lead frame market share by increasing synergy with customers.

In addition, the company said, "We will finalize the contract within 2022 and contribute to future earnings through expanded investment."