KNW said on Monday that it has completed the acquisition of Solvay Korea.
The company acquired 4 million shares for 20 billion won.
KNW has secured fluorine (F2) and sulfur hexafluoride (SF6) businesses through the acquisition. The chemicals are used for semiconductor production and as insulators in gas insulated switchgear.
Solvay’s business in Korea, based in Onsan, has been supplying the chemicals to global foundry companies.
KNW said it will change the brand of its subsidiary to Fluorine Korea. It wanted to an IPO for the subsidiary in the long-run, the company added.
KNW CEO Oh Won-seok said the company expects Solvay Korea to become its new growth engine thanks to the recent uptick in the global semiconductor market.