Fine Semitech

What Fine Semitech does

Fine Semitech Corporation (FST, KOSDAQ-listed since 2000) is a South Korean semiconductor and flat-panel-display equipment manufacturer founded in 1987 and headquartered in Hwaseong-si (Dongtan), with manufacturing in Osan-si. The company operates three divisions. The Pellicle Division produces photomask protection membranes for semiconductor and FPD lithography across ArF (≥99.0% transmittance at 193 nm), KrF, and G&I wavelengths, with EUV pellicles under development; it also commercialized the world's first fully automated EUV Pellicle Mounter/Demounter (EPMD) along with EUV Pellicle Inspection (EPIS-250) and EUV Pod Inspection (EPODIS) tools. The TCU Division supplies temperature control equipment — compressor-type, thermoelectric (±0.01°C), cryogenic (-70°C, 20°C→-80°C in 10 minutes), and CO₂ (GWP:1) chillers, heat exchangers, and plasma-wet/dry/burn-wet/heat-wet scrubbers — for semiconductor process equipment and exhaust-gas treatment. The APS Division develops foundational element technologies for future product lines.

FST generates revenue through B2B equipment sales (pellicles, chillers, scrubbers, EUV infrastructure tools) on a quotation-based, USD-denominated, net-45 pricing model with multi-year supply contracts, supplemented by technology licensing (e.g., the October 2025 Canatu CNT pellicle license) and global service contracts. Customers are large semiconductor manufacturers; Samsung Electronics — also a 7.17% equity holder — is the explicitly named anchor customer. Geographic reach spans Korea, China (Wuxi, Xi'an, Guangzhou), Japan (Tokyo, Miyagi), Taiwan, the United States (Hutto, TX), and Ireland. In FY2025, FST reported KRW 280,263 million in sales (+18% YoY) with a 30.1% gross margin; the company is loss-making at the operating and net lines, reinvesting for growth against a stated KRW 1 trillion revenue objective by 2030.

Name

Fine Semitech

Legal name

Fine Semitech Corporation

Website

https://fstc.co.kr

Company type

Public

Founded year

1987

Operating status

Operating

Headcount range

11–50 employees

Short description

Fine Semitech is a KOSDAQ-listed Korean manufacturer of semiconductor pellicles (ArF, KrF, G&I, with EUV in development), temperature control units (chillers and scrubbers), and EUV infrastructure tools (EPMD, EPIS, EPODIS), serving global semiconductor fabs across Korea, China, Japan, Taiwan, the U.S., and Ireland.

Ownership category

akta.pro rank

Product category

Semiconductor Manufacturing Equipment

NAICS

Semiconductor Machinery Manufacturing (333242), Semiconductor and Other Electronic Component Manufacturing (33441), Electrical Equipment Manufacturing (3353)

SIC

Semiconductors & Related Devices (3674), Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Industrial & Commercial Fans & Blowers & Air Purifing Equip (3564)

akta.pro primary industry

Lithography Equipment (DUV/EUV) (HDAHAEAA)

akta.pro secondary industry

Photoresists & Lithography Chemicals (Resists/Developers/Anti-Reflective Coatings) (HDAHAGAE)

Keywords

• Semiconductor pellicles
• Photolithography equipment
• Temperature control units
• Semiconductor manufacturing equipment
• EUV pellicle technology

Headquarters

HQ city

Osan

HQ country

South Korea

HQ region

Asia

Offices10 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Technology or R&D, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Pellicle Products: Manufacture and sale of semiconductor and FPD pellicles including EUV, ArF, KrF, and G&I wavelength pellicles for photolithography protection. Revenue from product sales to semiconductor manufacturers.
2. TCU Products (Chillers, Scrubbers): Sale of Temperature Control Units including compressor-type chillers, thermoelectric chillers, cryogenic chillers, CO₂ chillers, heat exchangers, and various scrubber types (Plasma-Wet, Dry, Burn-Wet, Heat-Wet).
3. EUV Infrastructure Tools: Sale of EUV pellicle-related equipment including EPMD (mounter/demounter), EPIS (inspection system), EPODIS (pod inspection system). Commercially available from H2 2021.
4. Technology Licensing: Revenue from licensing proprietary technologies such as CNT pellicle membrane production using CNT100 SEMI reactor. License fee recognized in Q4 2025.
5. Global Service and Support: Service and support through global service centers in Korea, China (Wuxi, Xi'an), Japan (Tokyo, Miyagi), Taiwan, Singapore, USA (Austin, New York), and Ireland. Revenue from service contracts and spare parts.
6. APS Division (Future Technologies): R&D division developing element technologies for future FST products, positioning for next-generation semiconductor equipment.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Fine Semitech manufactures and sells semiconductor and FPD pellicles for photomask protection during lithography, and temperature control units (TCUs) including chillers, heat exchangers, and scrubbers for semiconductor manufacturing processes. The company also produces EUV infrastructure tools (EPMD, EPIS, EPODIS) and licenses advanced CNT pellicle membrane production technology.

Product overview

Fine Semitech Corp (FST) is a Korean semiconductor equipment manufacturer with three core divisions offering specialized products for semiconductor and display manufacturing. The Pellicle Division provides protective membranes for photomasks in IC and FPD manufacturing, with products covering ArF, KrF, G&I wavelengths and EUV (under development). The TCU (Temperature Control Unit) Division offers chillers (compressor-type, thermoelectric, cryogenic, CO₂), heat exchangers, and scrubbers (plasma-wet, dry, burn-wet, heat-wet) for precise temperature control and exhaust gas management. The APS Division focuses on foundational element technologies. Additionally, FST has developed EUV infrastructure tools including the EPMD (mounter/demounter), EPIS-250 (inspection system), EPODIS (pod inspection system), and EPAT (assembly tool, in development). The company serves semiconductor manufacturers globally with manufacturing in Korea (Dongtan HQ and Osan) and service centers worldwide.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Chiller shipments exceeded 19,000 units by 2021
• +4 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature14 records

Partnerships

One partnership is on record.

• CanatucoreTechnology or Integration · 24 October 2025Canatu granted FST a license for commercial production of CNT pellicle membranes using the CNT100 SEMI reactor. The license allows FST to mass-produce carbon nanotube pellicle membranes for semiconductor lithography. Revenue from the license fee is recognized in Q4/2025. This partnership demonstrates the maturity of Canatu's CNT pellicle technology and market demand, enabling FST to expand its pellicle product portfolio with advanced CNT-based membranes.

Scale indicators11 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Mitsui Chemicals: Japanese chemical company that is the established global leader in semiconductor pellicles (EUV, ArF, KrF). Directly competes with FST's Pellicle Division and represents the dominant incumbent FST must displace for EUV market share.
• S&S Tech: Korean pellicle manufacturer and closest domestic competitor to FST in semiconductor and FPD pellicles. Competes head-to-head in ArF, KrF, and EUV pellicle segments, particularly for Korean customers like Samsung and SK Hynix.
• AP Tech: Korean pellicle manufacturer focused on semiconductor and display pellicles. Competes with FST's Pellicle Division on advanced lithography protection membranes across ArF, KrF, and emerging EUV applications.

Broad incumbents

• ASML: Dominant EUV lithography equipment maker whose ecosystem includes pellicle and infrastructure tool suppliers. FST's EPMD, EPIS, and EPODIS tools serve ASML-scanner-installed fabs, making ASML both an indirect enabler and a benchmark for technology compatibility.
• Tokyo Electron: Major Japanese semiconductor equipment manufacturer with broad product portfolio including coater/developers and process equipment. Overlaps with FST's TCU and pellicle-adjacent ecosystems as a comprehensive semi-cap supplier to the same customer base.
• SCREEN Holdings: Japanese semiconductor equipment maker with cleaning, coating, and surface preparation products. Adjacent to FST's pellicle and EUV infrastructure businesses through shared wafer processing and contamination control focus areas.
• Ebara Corporation: Japanese industrial machinery maker with semiconductor process equipment including pumps, chillers, and CFD systems. Overlaps with FST's TCU Division for semiconductor fab temperature control and fluid handling equipment.

Regional players

• Philoptics: Korean semiconductor equipment maker specializing in inspection and lithography-related equipment. Adjacent competitor with overlapping customer base in Korean semiconductor fabs and complementary EUV ecosystem positioning.

Emerging players

• Canatu: Finnish deep-tech company developing carbon nanotube (CNT) pellicle membranes for EUV. Strategic partner that licensed FST for CNT pellicle production—comparable technology targeting the same EUV membrane opportunity from a different angle.

Others

• SMC Corporation: Japanese pneumatic and industrial automation components maker serving semiconductor fabs globally. Comparable in supplying process-control peripherals to the same semiconductor manufacturing customers, though not directly competing in pellicles or TCUs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/fine-semitech-corp-

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fine Semitech