Deposition equipment (PECVD, ALD)
Wonik IPS
A leading Korean deposition-equipment maker (PECVD, ALD). FY2025 revenue ₩527B. Supplies wafer-fab deposition tools to Samsung (50%+ of its chip equipment revenue) and SK hynix, and is effectively the only domestic deposition vendor able to serve Samsung’s leading-edge foundry. Also makes display dry-etch tools.
240810.KQ Updated Jul 12, 2026 4 AI consumers· 2 recurring
Per the valuechain.wiki graph, Wonik IPS 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 ₩527B
- Customer concentration · Samsung 50%+ of chip-tool revenue. Customers Samsung, SK hynix, display makers.
- Segments · Semiconductor tools · Display tools
Revenue from
- Samsung Electronics High confidence· Revenue ₩527B · FY2025 · consolidated total revenue
Supplies PECVD/ALD deposition tools to Samsung (50%+ of chip-tool revenue); serves Samsung’s leading-edge foundry.Confirms EN Seoul Economic Daily Published Jun 11, 2026: Semiconductor equipment stocks surge: Jusung, Wonik IPS on Samsung/SK domestic capexConfirms KO Hankyung (Daum) Published Nov 4, 2025: Wonik IPS benefits from Samsung, triples capacityMentions KO Finance Scope Published Oct 24, 2025: Wonik IPS named sole Korean supplier for leading-edge process at Samsung Taylor fab, about 10% of a multi-trillion-won scope - SK hynix High confidence
Supplies wafer-fab deposition tools (PECVD/ALD) to SK hynix.Confirms EN Seoul Economic Daily Published Jun 11, 2026: Semiconductor equipment stocks surge: Jusung, Wonik IPS on Samsung/SK domestic capex - display (Visionox et al.) Medium confidence
Supplies display dry-etch tools and others.Mentions KO Hankyung (Daum) Published Nov 4, 2025: Wonik IPS benefits from Samsung, triples capacity
Pays to
- precision machining & metrology (undisclosed) Low confidence
Buys precision machining and metrology modules (undisclosed). - components & modules (undisclosed) Low confidence
Outsources parts and modules for deposition tools (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 |
| Wonik IPS | node | -19.7 | -19.8 | -0.2 | -25.5 | +408.8 | +9.3 |
YTD as of 2026-07-10 · source: Yahoo Finance
Wonik IPS's thesis is 'the only domestic deposition-equipment maker able to serve Samsung's leading edge.' It supplies PECVD/ALD wafer-fab deposition tools to Samsung (50%+ of its chip-equipment revenue) and SK hynix, and is effectively the sole domestic deposition vendor qualified for Samsung's leading-edge foundry — a localized alternative to global tools like Lam and AMAT. As an equipment maker its results swing hard with customer capex cycles; the +409% in 2025 was a surge on hopes of resumed Samsung/SK investment (settling to +9% in 2026). The upside is structural deposition-step growth from GAA and 3D NAND stacking plus wider adoption at Samsung's leading-edge foundry; the downside is customer capex delays and Samsung concentration.
Analysis generated from returns as of 2026-07-10Analyst ratings
Consensus: Buy 3 · Hold 1 · Sell 0 · Avg. target ₩175,250 · Price ₩125,000 (07-10) · Upside +40%
| Broker | Rating | Target | Published | |
|---|---|---|---|---|
| NH Investment & Securities | Buy | ₩207,000 | Jun 29, 2026 | Report ↗ |
| BNK Investment & Securities | Hold | ₩138,000 | May 13, 2026 | Report ↗ |
| SK Securities | Buy | ₩180,000 | May 11, 2026 | Report ↗ |
| Meritz Securities | Buy | ₩176,000 | May 11, 2026 | Report ↗ |
Reflects customers' US foundry restart and memory capex; target raised to KRW207,000, with sharp improvement seen from Q3.