SEOUL, Jan. 23 (Yonhap) -- SK Holdings Co., the holding firm of energy and telecom conglomerate SK Group, said Monday that it has decided to buy a controlling stake in LG Siltron Co., a local producer of wafers used in semiconductor manufacturing, for 620 billion won (US$532 million), as part of efforts to expand its chipmaking business presence.
The company said its board of directors has decided to buy the 51 percent stake in LG Siltron, which manufactures and sells wafers for semiconductors.
Wafers are used to make semiconductor devices, such as DRAM and flash memory, and power devices.
"We will wrap up the takeover as soon as possible after signing a stock sale contract," said an SK official.
SK Group has been beefing up its presence in the chipmaking sector by taking over Hynix Semiconductor Inc., currently SK hynix Inc., in 2011. In 2015, the group also bought OCI Materials, a local manufacturer of special gases used in chipmaking, LCD and solar panels, for 482 billion won.
SK Group, South Korea's No. 3 conglomerate, has leading telecom operator SK Telecom Co., top refiner SK Innovation Co., and a slew of affiliates under its wing.