KOSDAQ · Semi materials/equipment · slurry + tools
KC Tech
A leading Korean materials-and-equipment supplier of both CMP slurry and CMP/cleaning tools, its edge being one company holding both the consumable (slurry) and the equipment. Serving Samsung and SK Hynix, slurry is consumable revenue tied to fab utilization while tools are capex-cycle revenue, riding different rhythms. As HBM and miniaturization add CMP steps, demand for both slurry and tools rises together.
281820.KS Updated Jul 12, 2026 5 AI consumers· 1 recurring
Per the valuechain.wiki graph, KC Tech is directly linked to 3 companies (0 supply, 2 revenue, 1 investment relationships) and reaches 9 companies within two hops; the links are backed by 7 dated sources, 3 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · CMP slurry and CMP/clean equipment
- Segments · CMP slurry and CMP/clean equipment
Revenue from
- SK hynix High confidence· Market share 18.12% · 2026 계약/매출 대비 · DART single supply contract
Supplies slurry and tools into SK Hynix DRAM/HBM processes — more HBM layers and scaling add CMP steps, lifting both consumable and tool demand. - Samsung Electronics High confidence· Market share 5.88% · 2026 계약/매출 대비 · DART single supply contract
Supplies Samsung with both CMP slurry and CMP/cleaning tools — a dual-revenue axis, slurry tied to fab utilization and tools to the expansion cycle.Mentions KO Hyundai Motor Securities & others Published May 1, 2026: CMP tools/slurry semi-capex beneficiary; targets ~KRW 60,000-68,000 (Buy)Confirms KO DART (Korea FSS) Published Jan 7, 2026: KC Tech single supply contract (Samsung Electronics)
Pays to
- equipment & R&D (undisclosed) Low confidence
Production equipment and R&D (undisclosed). - raw materials (undisclosed) Low confidence
Raw materials for CMP slurry and tools (undisclosed).
Investments
- TCK (Tokai Carbon Korea) High confidence
KC Tech co-founded TCK and holds ~8%.
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 |
| KC Tech | node | -24.2 | -6.1 | +57.9 | +5.9 | +56.7 | +108.1 |
| TCK (Tokai Carbon Korea) | benef1 | -10.1 | -16.9 | +2.8 | -28.7 | +225.7 | -2.5 |
YTD as of 2026-07-10 · source: Yahoo Finance
A Korean materials-and-equipment supplier holding both CMP slurry (consumable) and CMP/cleaning tools (capex), tied simultaneously to Samsung/SK Hynix fab utilization and expansion. The thesis is miniaturization and HBM — more process layers add CMP steps, lifting both slurry consumption and tool demand, with localization aiding share gains. Risks are concentration in the two memory customers and capex-cycle volatility. In graph terms, Samsung/SK DRAM/HBM investment and utilization transmit into KC Tech slurry and tool demand, while the ~8% stake in TCK is a side option on graphite-parts growth.
Analysis generated from returns as of 2026-07-10Analyst ratings
Consensus: Buy 2 · Hold 0 · Sell 0 · Avg. target ₩47,500 · Price ₩97,400 (07-10) · Upside -51%
| Broker | Rating | Target | Published | |
|---|---|---|---|---|
| DB Financial Investment | Buy | ₩50,000 | Dec 9, 2025 | Report ↗ |
| Kiwoom Securities | Buy | ₩45,000 | Nov 26, 2025 | Report ↗ |
On a strong Q4 and recovering Samsung/SK hynix DRAM demand plus the 1c-nano ramp, forecast 2026 operating profit of KRW 75.8B (+36% YoY) and raised the target to KRW 50,000.
Analyses covering this node
- Target upside is a residual, not a signal: consensus writes down the chain after the fact Jul 10, 2026