KOSDAQ · Semi materials · Korea's only EUV photoresist
Dongjin Semichem
A semiconductor-materials maker and Korea’s only domestic EUV photoresist producer. FY2025 revenue about ₩1.19T (electronic materials ₩961B). Supplies photoresist, etchant and CMP slurry to Samsung (3nm/DRAM) and SK hynix (HBM CMP slurry).
005290.KQ Updated Jul 12, 2026 4 AI consumers· 1 recurring
Per the valuechain.wiki graph, Dongjin Semichem is directly linked to 2 companies (0 supply, 2 revenue relationships) and reaches 9 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 · FY2025 revenue about ₩1.19T (electronic materials ₩961B)
- Customer concentration · Korea’s only EUV PR maker. Customers: Samsung, SK hynix, LG Display.
- Segments · Electronic materials · Fine chemicals
Revenue from
- Samsung Electronics High confidence· Revenue share 59% · 2025 3Q · Samsung’s share of Dongjin Semichem revenue
Supplies photoresist (incl. EUV) and chemicals to Samsung — ~59% of revenue (Q3 2025); pioneered domestic EUV PR.Confirms KO Korea Economic TV Published Dec 2, 2025: Dongjin Semichem: Samsung is 59% of revenue (photoresist)Confirms KO TheElec Accessed Jun 20, 2026: Dongjin Semichem mass-produces EUV negative PR, supplies Samsung - SK hynix Medium confidence
Newly supplies CMP slurry for SK hynix HBM — an entry point breaking a prior single-supplier structure and widening customers/products. - display · other (LG Display et al.) Medium confidence
Supplies display materials and fine chemicals to LG Display and others — a revenue source complementing the semiconductor cycle.
Pays to
- chemical feedstock & monomers (undisclosed) Low confidence
Buys chemical feedstocks and monomers for PR/etchant (suppliers undisclosed). - refining & packaging equipment (undisclosed) Low confidence
Buys purification and packaging equipment/materials (undisclosed).
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 |
| Alphabet (Google) | lead2 | +65.3 | -39.1 | +58.3 | +36 | +66 | +14.3 |
| 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 |
| Dongjin Semichem | node | +28.1 | -13.7 | +16.1 | -42.8 | +160.1 | -15.8 |
YTD as of 2026-07-10 · source: Yahoo Finance
The thesis is a materials-localization position as Korea's only EUV photoresist maker, and the two-sidedness of Samsung concentration. EUV PR is a difficult material effectively dominated by Japan (JSR, TOK), and Dongjin, co-developing with Samsung, mass-supplies its 3nm and DRAM lines as the sole domestic-substitution axis — with ~59% of revenue from Samsung (Q3 2025), results are directly tied to Samsung's leading-edge ramp. It is also newly supplying CMP slurry for SK hynix HBM, breaking a prior single-supplier structure and widening customers and products, while supplying photoresist, etchant and CMP slurry together provides a cycle buffer. Risks are high Samsung dependence (59%), which swings with Samsung capex/utilization, and EUV-PR feedstock/monomers exposed to foreign sourcing.
Analysis generated from returns as of 2026-07-10Analyst ratings
Consensus: Buy 0 · Hold 0 · Sell 0
| Broker | Rating | Target | Published | |
|---|---|---|---|---|
| Shinyoung Securities | Not Rated | — | Mar 24, 2025 | Report ↗ |
Effectively no formal coverage; Shinyoung Securities' Not Rated spot comment from March 2025 is the only recent verified brokerage note.