Doosan Tesna has decided to postpone the construction of its second factory in the Brain City general industrial complex in Pyeongtaek. The planned 48,000㎡ new factory, which would have surpassed the existing Pyeongtaek and Anseong plants in scale, has had its equipment investment and construction work suspended following a recent internal meeting.
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- Doosan Tesna and the Importance of the OSAT Business
• Role as an OSAT (Outsourced Semiconductor Assembly and Test) company
Doosan Tesna focuses on the back-end processing of system semiconductors, including image sensors, application processors (APs), and memory controllers. Heavily reliant on orders and technology from its main client, Samsung Electronics, it is highly sensitive to changes in the business environment.
• Background of Investment and Expansion
Last year, the company announced a plan to invest 220 billion won to construct a 15,870㎡ factory and cleanroom. This new factory was one of Doosan Tesna's key strategies to secure a competitive advantage in the OSAT market.
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2. Background of the Decision to Postpone the Pyeongtaek New Factory
• Impact of Samsung Electronics' System Semiconductor Business Slump
The failure of the cutting-edge AP "Exynos 2500," which was scheduled to be used in Samsung Electronics' latest Galaxy smartphones, and the overall downturn in IT market demand have significantly impacted Samsung Electronics' system semiconductor business performance. This slump negatively affected Doosan Tesna's sales projections, increasing the burden of equipment investment for the factory construction.
• Investment Review and Economic Burden
Doosan Tesna's fourth-quarter results showed sales of 82.2 billion won and an operating loss of 1.1 billion won, significantly deviating from the consensus forecast. This poor performance and uncertain market conditions led to the decision to postpone the project indefinitely without a resumption date.
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3. Doosan Tesna's Future Strategy and Industry Outlook
• Re-examination of the cooperative relationship with Samsung Electronics
As Doosan Tesna's core client, Samsung Electronics' business recovery will play a crucial role in both companies' investment and production strategies. Doosan Tesna is likely to reorganize its strategy in response to changes at Samsung Electronics and in the IT industry.
• Future investment conditions and business direction
Slowing down equipment investment creates a foundation for swift response when market conditions improve, while simultaneously reducing financial burden. The Doosan Group's strengthening of its semiconductor business will continue, so it's necessary to pay attention to investment trends in other related companies.
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4. Related News and Additional Issues
• Mergers and Acquisitions (M&A) Trends
Doosan Tesna completed the acquisition of Engion, an image sensor back-end processing specialist, and once attempted to acquire SemiFive, but this was halted due to the worsening market conditions. These moves reflect intensified competition and changing investment environments within the OSAT industry.
• Industry Trends and Investment Outlook
Amidst the changing competitive landscape of the global semiconductor market, with players like Samsung Electronics Foundry and TSMC, OSAT companies are facing investment burdens and seeking new business models.
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■ Conclusion
Doosan Tesna's decision to postpone the construction of its Pyeongtaek new factory reflects more than just a company's investment delay; it mirrors the downturn in Samsung Electronics' system semiconductor business and the uncertainty in the global semiconductor market. Close monitoring of client collaboration, intensified industry competition, and changes in investment conditions will be crucial moving forward.
Keywords: Doosan Tesna, Pyeongtaek new factory, OSAT, Samsung Electronics, system semiconductor, investment burden, semiconductor back-end process, equipment investment
Continuously monitoring these changes and industry trends will aid future investment decisions.
*Source URL:
https://zdnet.co.kr/view/?no=20250214144713#_enliple
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