Hanmi Semiconductor Co., South Korea’s foremost chip packaging equipment manufacturer, has revised its annual sales target upwards to 650 billion won ($471 million) for this year, driven by escalating demand for its machinery in the booming artificial intelligence (AI) chip market. The company’s CEO, Kwak Dong-shin, announced ambitious targets of 1.2 trillion won for 2025 and 2 trillion won by 2026.
Initially setting the 2024 sales goal at 450 billion won, Hanmi Semiconductor had already adjusted this figure to 550 billion won earlier in the year. The rapid growth in AI chip demand globally has provided a significant boost to the chip packaging equipment industry, with forecasts suggesting the market will grow 48.8% to $61 billion by 2028, according to Techinsights Inc.
Hanmi Semiconductor specializes in producing thermal compression (TC) bonders, essential for manufacturing high bandwidth memory (HBM) chips, crucial for AI applications. The company supplies these bonders to major players like SK Hynix and recently secured a 22.6 billion won deal with Micron Technology Inc.
To support its elevated targets, Hanmi plans to introduce upgraded TC bonder models and expand its production capacity. The company’s new factory in Incheon aims to increase its annual output from 264 to 420 units by next year. Despite facing intensified competition and the end of its exclusive supplier status with SK Hynix, Hanmi Semiconductor’s shares have more than doubled this year, reflecting high investor expectations tied to the AI chip boom.
