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Seoul Semiconductor Reports Exceptional Revenues for FY 2020 with the 2nd Generation Technologies Leading the Next 10 Years

2021-02-08


Seoul Semiconductor Reports Exceptional Revenues for FY 2020 with the 2nd Generation Technologies Leading the Next 10 Years

The fourth quarter revenues and annual profits grew 10% and 20% respectively despite of COVID-19

Company secures a foundation for sustainable growth with leading 2nd generation patented LED technologies

Expect 2021 first quarter revenue to grow 30% YoY further accelerating growth 

Decided to increase dividend payout ratio to 50% to enhance shareholder value based on rise of KRW 190 billion in capital profit 


ANSAN, South Korea (February 8, 2021) – Seoul Semiconductor Co., Ltd. (“Seoul”) (KOSDAQ 046890), a leading global compound semiconductor provider, today announced KRW 310.5 billion of consolidated revenues for the fourth quarter and operating profit of KRW 14.4 billion. On annual basis, revenues grew 2% while operating profits grew 20%. Seoul guided KRW 310 billion to 330 billion range for the first quarter revenues in 2021, which is an increase of 27% ~ 36% on YoY basis. The record first quarter revenues recorded during the past ten years was KRW 283 billion.

 

The unrealized gain from the public offering of its affiliated company Seoul Viosys is estimated to be KRW 190 billion. Hence, as part of further enforcing shareholder friendly practices, Seoul announced a KRW 20 billion share buyback to increase shareholder value for shareholders who have patiently waited last 20 years. The board of directors decided to increase the dividend payout ratio to 50%, increasing double fold from previous mid 20% and maintain this level for the next three years.



Seoul Semiconductor’s world’s first leading 2nd generation technologies


The second generation LED technologies developed by Seoul have led to strong sales growth as well as obtaining permanent injunction and recall of infringing products sold by competitors in the U.S and European courts. WICOP, a technology announced by Seoul’s CEO Chung Hoon Lee in 2015 at the Intercontinental Hotel in Shanghai, is the world’s first technology to directly mount LED chips onto a substrate without packaging. WICOP is recognized as a revolutionary semiconductor technology and is essential for production of mini LEDs, and whoever plans to manufacture mini LEDs needs to obtain license from Seoul.


“The restructuring of the LED industry is nearing its end. Not only competitors even in the North America and Europe, but also mid-sized competitors in Japan, Korea, Taiwan and China are facing severe management difficulties. This has provided a lucrative positioning for Seoul to lead the industry with its differentiated 2nd generation technologies to achieve sustainable growth,” said an official of Seoul Semiconductor.


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About Seoul Semiconductor

Seoul Semiconductor is the world’s second-largest global LED manufacturer, a ranking excluding the captive market, and has more than 14,000 patents. Based on a differentiated product portfolio, Seoul offers a wide range of technologies, and mass produces innovative LED products for indoor and outdoor lighting, automotive, IT products, such as mobile phone, computer displays, and other applications. The company’s world’s first technologies are becoming LED industry standard and leading global market with a package-free LED, WICOP; a high-voltage AC-driven LED, Acrich; a LED with 10X the output of a conventional LED, nPola; a ultraviolet clean technology LED, Violeds; an all direction light emitting technology, filament LED; a natural spectrum LED, SunLike; and more. For more information, please visit www.seoulsemicon.com/en.


Contacts:

Seoul Semiconductor Co., Ltd.

Jeonghee Kim

Tel: +82-70-4391-8311

Email: jeonghee.kim@seoulsemicon.com