Samsung Aerospace has become the second division of the powerful Korean electronics company, Samsung Group to concentrate its efforts on the semiconductor market. The group’s former aerospace engineering company follows top DRAM manufacturer Samsung Electronics into a new dependence on the chip business.
Samsung Aerospace has been restructured as a corporation specializing in semiconductor components and packaging devices following the merger of its aircraft interests with two other Korean domestic aircraft manufacturers as part of the ongoing restructuring of the country’s top chaebol, or conglomerates.
The company will concentrate on production of lead frames, chip mounters and wire bonders. We plan to increase the annual output of lead frames from 300bn won ($260m) this year to 550bn won ($478m) in 2003 and production of chip mounters and wire bonders from 150bn won ($130m) to 350bn won ($304m), a spokesperson said.
As well as supplying Samsung Electronics, the company is exporting to overseas semiconductor manufacturers such as Siemens AG of Germany. The spokesman said it plans to increase its international market share from 4% today to 10% in 2003 making it the world’s third-largest manufacturer in this sector.
