HPSP Adopts Co-CEO Structure

What happened

On Oct. 22, HPSP held an extraordinary shareholders' meeting at its headquarters in Hwaseong, Gyeonggi Province, where shareholders approved Kim Jae-hyun as new CEO with 96.3% voting in favor and 3.7% voting against or abstaining; his term is two years and five months. Kim Jae-hyun, former CEO of Hanwha Semitech, will serve alongside incumbent CEO Kevin Ki-doo Lee under a co-CEO structure. The source does not state the cause. Kim previously worked at Applied Materials Korea, Samsung Electronics, Lam Research and Wonik IPS, spanning front-end and back-end semiconductor equipment, and served as CEO of Hanwha Semitech from Nov. 2, 2025. Shareholders also approved amendments to the articles of incorporation concerning strategic investments and acquisitions of shares in other companies, primarily establishing a clearer basis for issuing new shares to third parties for business purposes; the proposal passed with 98.1% in favor and 1.9% against or abstaining. An HPSP official said the company is considering options including mergers and acquisitions (M&A) to strengthen its capabilities in high-pressure gases used in HPA and related gas technologies, and that the amendments establish an institutional framework for future M&A transactions or acquisition financing; HPSP has approximately 250 billion won in cash equivalents and short-term financial assets available for potential M&A and related investments. HPSP is the global leader in high-pressure hydrogen annealing (HPA) equipment, with customers including major memory semiconductor manufacturers and foundries worldwide, and plans to accelerate semiconductor equipment R&D under Kim's leadership.

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Source and time

Source: The Elec · 10/22/2026 · View original source