Dechert Advises SK Inc. on US$1.6 Billion Sale of SK Siltron Stake to Doosan Corporation

Dechert advised SK Inc., the strategic investment holding company of SK Group, one of the largest conglomerates in South Korea, on the U.S. law aspects of its sale of a total 70.6% stake in SK Siltron Co., Ltd. to Doosan Corporation for approximately 2.3 trillion won (US$1.6 billion).

The share purchase agreement was signed on 31 July 2026. The parties anticipate that closing will occur on or before the end of January 2027, subject to regulatory approvals and other customary closing conditions.

SK Siltron is Korea's only semiconductor wafer manufacturer and one of the world's largest producers of 300 millimetre silicon wafers, the substrate on which semiconductor chips are fabricated. The transaction is a cornerstone of SK Group's portfolio rebalancing and ranks among the largest Korean M&A transactions announced in 2026.

"Silicon wafers are the foundational material of the entire semiconductor industry, and demand for them is being reshaped by the buildout of AI infrastructure," said David Cho, a partner in Dechert's corporate and securities practice who co-led the deal. "SK Siltron sits at the very start of that value chain, and this transaction repositions two of Korea's leading groups for the AI era. Advising SK Inc. on a deal of this strategic significance, alongside Korean counsel and colleagues across our global platform, is exactly the kind of work our Asia corporate team is built for."

"Delivering this transaction meant integrating U.S., Korean and cross-border workstreams on a demanding timeline," added partner Min Kim. "It reflects the trust SK Group places in our team and the cross-border M&A platform we are building at Dechert across Asia and globally."

The Dechert team advising SK Inc. was led by partners David Cho and Min Kim, with associates Charles Low, Jerry Ahn and Cynthia Wong. The transaction drew on Dechert lawyers across the firm's global platform, including partner Sozi Pedro Tulante and counsel Wilfred T. Beaye, Jr. on transaction risk and disputes, partner Hrishi N. Hari on CFIUS and other foreign investment and merger control clearances, partners Craig L. Brown and John M. Ix on the real estate aspects of the transaction, and J. Ian Downes, with associate Jeffrey Rubin, on employment and workforce transition matters.

Dechert’s Asia Pacific practice is led from Singapore and advises across the full lifecycle of private capital in the region, from fund formation and fund financing through to acquisitions, leveraged buyouts and joint ventures, secondaries and the full spectrum of exit opportunities. Clients include private equity and private credit managers, institutional and sovereign investors, financial institutions and Asian conglomerates. The Asia team works seamlessly alongside colleagues across Dechert's global platform, including in the United States, U.K., Europe and the Middle East, on cross-border matters.

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