Hanmi Semiconductor Chair Kwak Dong-shin (Hanmi Semiconductor)

Hanmi Semiconductor Vice Chair Kwak Dong-shin has been promoted to take the helm of the chip packaging equipment maker, after leading the development and launch of a flagship product used in producing next-generation artificial intelligence DRAM chips.

Kwak joined the company in 1998, eight years after his late father Kwak Noh-kwon founded the company in 1980. Kwak Dong-shin has been the effective leader of the chip equipment firm since 2007, when his father stepped back from front-line management.

He spearheaded the development of the Thermal Compression bonder, a critical piece of equipment for producing High Bandwidth Memory chips -- the most advanced DRAM chips used to enhance AI processing performance of graphic processing units. Driven by strong sales of the TC bonders amid the AI boom, the company has grown to achieve a market capitalization of 8 trillion won ($6.15 billion).

Announcing the promotion Monday, the company cited Kwak’s contributions to the company’s growth into a global firm with over 320 clients worldwide, including his consistent investment in research and development, as well as his commitment to customer satisfaction.

“Driven by the explosive growth of the AI market, global demand for High Bandwidth Memory is increasing rapidly every year,” Kwak said Monday. “Nvidia’s next-generation AI chip Blackwell is produced using Hanmi Semiconductor’s TC bonders. As the global leader in HBM TC bonding equipment, our competitiveness and market position will remain firm.”

Hanmi Semiconductor has been the main supplier of crucial equipment to all three HBM producers -- SK hynix, Samsung Electronics and US-based Micron Technology -- supplying Nvidia.

On Monday, Kwak also unveiled the company’s new TC Bonder Griffin Super Bonding Head, which incorporates a new bonding head that enhances productivity and precision in chip stacking processes.

“The new product is tailored for advanced HBM production and is expected to drive significant revenue growth next year,” Kwak said.

To support growing demand from US big tech companies, the company is also reviewing plans to establish a US subsidiary, and selecting agents capable of providing after-sales support for key customers, Kwak said. The chairman referred to "M7," which are seven leading technology companies listed on the S&P 500: Apple, Microsoft, Google parent Alphabet, Amazon, Nvidia, Facebook parent Meta and Tesla.