MiCo Ceramics to Buy LG Display Plant for 150 Billion Won Amid Semiconductor Boom

What happened

KoMiCo disclosed on Oct. 19 that its subsidiary MiCo Ceramics plans to acquire the land and buildings of an idle LG Display plant in Gumi, North Gyeongsang Province, for 150 billion won, to expand production capacity in stages for ceramic heaters and electrostatic chucks (ESCs) used in semiconductor manufacturing equipment; the acquisition is scheduled for Feb. 19, 2027. The plant ceased operations as LG Display scaled back its liquid crystal display (LCD) business. The purchase price represents 14.56% of KoMiCo's consolidated total assets, and the Gumi acquisition alone, excluding additional equipment investment, is 2.3 times the 65.5 billion won spent on its previous largest investment, the fourth Gangneung plant; the property covers 183,565 square meters of land, approximately 21 times the 8,807-square-meter site of the fourth Gangneung plant, with a total building floor area of 389,540 square meters. MiCo Ceramics currently operates two production facilities in Anseong and four in Gangneung, and its equipment utilization rate stood at 79.6% in the first half of 2026. The company reported first-half revenue of 149.5 billion won and net profit of 48.7 billion won, up 21.1% and 46.5%, respectively, from a year earlier. However, the company has not disclosed how it will finance the 150 billion won acquisition or additional equipment investments: it held 28.5 billion won in cash and cash equivalents at the end of 2025, estimated at approximately 62.2 billion won as of the end of June 2026 based on KoMiCo's semiannual report, leaving a shortfall of 87.8 billion won even if the entire amount were used; it also had borrowings of 118 billion won and convertible bonds with a book value of 19.3 billion won at the end of 2025, and its IPO plans face obstacles over concerns about duplicate listings. A KoMiCo official said it is difficult to provide specific details beyond what has been disclosed.

Impact and signal

Affected components and suppliers

Source and time

Source: The Elec · 10/20/2026 · View original source