KOSDAQ · Package substrates · AI FC-BGA localization
Daeduck Electronics
A leading Korean substrate maker of high-performance FC-BGA and semiconductor package substrates, investing 800B+ KRW in high-layer-count substrates for AI accelerators and servers to localize the high-end substrates long led by Japan and Taiwan. It supplies Samsung and SK hynix and is expanding to overseas AI customers; FC-BGA is a high-value material whose unit price rises with more layers and larger area as AI-server and HBM demand grows. The watch points are the utilization of its large capacity investment and whether it wins overseas AI customers.
353200.KS Updated Jul 12, 2026 5 AI consumers· 1 recurring
Per the valuechain.wiki graph, Daeduck Electronics is directly linked to 2 companies (0 supply, 2 revenue relationships) and reaches 8 companies within two hops; the links are backed by 4 dated sources, 1 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · FC-BGA and package substrates
- Segments · FC-BGA and package substrates
Revenue from
- Samsung Electronics Medium confidence
Supplies FC-BGA package substrates to Samsung — the key customer for localizing high-performance AI/server substrates.Mentions KO DB, Daishin, Hana Securities Published May 1, 2026: FCBGA/MLB/memory triple upturn; targets KRW 74,000-250,000 (Buy); 2026 OP +263% - SK hynix Medium confidence
Supplies FC-BGA package substrates to SK hynix — a growth axis tied to HBM/AI-server demand.
Pays to
- raw materials (undisclosed) Low confidence
Raw materials for FC-BGA package substrates (undisclosed). - equipment & R&D (undisclosed) Low confidence
Production equipment and R&D (undisclosed).
Investors
- Daeduck Co. (holding company, 31.46%) High confidence
The axis of the Daeduck group structure — holding company Daeduck Co. is the largest shareholder at 31.46%. It houses Daeduck Electronics (FCBGA/MLB substrates and memory module boards) within the group, forming one pillar of localizing semiconductor package substrates.
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Marvell | lead2 | +84.6 | -57.5 | +63.7 | +83.8 | -22.8 | +177.8 |
| AMD | lead2 | +56.9 | -55 | +127.6 | -18.1 | +77.3 | +160.5 |
| Everpure (formerly Pure Storage) | lead2 | +44 | -17.8 | +33.3 | +72.3 | +9.1 | +18.4 |
| Broadcom | lead2 | +56.5 | -13.3 | +104.2 | +110.5 | +50.6 | +16 |
| NVIDIA | lead2 | +125.5 | -50.3 | +239 | +171.2 | +38.9 | +13.3 |
| Qualcomm | lead2 | +22.3 | -38.6 | +35.1 | +8.3 | +13.8 | +11.7 |
| SK hynix | lead1 | -0.4 | -25.6 | +53.9 | +48.6 | +361.1 | +140.3 |
| Samsung Electronics | lead1 | -9 | -14.2 | +20.9 | -26.4 | +212.9 | +77.9 |
| Daeduck Electronics | node | +64.2 | -0.3 | +13.3 | -22.7 | +250.2 | +92.1 |
YTD as of 2026-07-10 · source: Yahoo Finance
A leading Korean substrate maker of high-performance FC-BGA whose growth story centers on localizing — with 800B+ KRW of investment — the high-end substrates long led by Japan (Ibiden, Shinko) and Taiwan. FC-BGA is the high-layer substrate linking AI accelerators and server CPUs, a high-value material whose unit price rises with more layers and larger area as AI-server and HBM demand grows, and it is expanding from Samsung and SK hynix to overseas AI customers. Risks are the utilization of its large capacity investment and the volatility of the downstream AI investment cycle. Upstream on the graph the trigger is package-substrate demand from Samsung, SK and overseas AI customers, and this node is the materials beneficiary of that localization demand.
Analysis generated from returns as of 2026-07-10Analyst ratings
Consensus: Buy 4 · Hold 0 · Sell 0 · Avg. target ₩180,000 · Price ₩120,900 (07-10) · Upside +49%
| Broker | Rating | Target | Published | |
|---|---|---|---|---|
| Meritz Securities | Buy | ₩200,000 | Jun 16, 2026 | Report ↗ |
| Hana Securities | Buy | ₩250,000 | Jun 15, 2026 | Report ↗ |
| Daishin Securities | Buy | ₩130,000 | Apr 29, 2026 | Report ↗ |
| BNK Investment & Securities | Buy | ₩140,000 | Apr 27, 2026 | Report ↗ |
Q2 OP KRW62bn (+3,224%) beat; ASP gains across FC-BGA/FC-CSP/MLB and large-area FC-BGA mass production lift target to KRW200,000.