What Dongjin Semichem does

Dongjin Semichem (동진쎄미켐, KRX: 005830) is a South Korean fine chemicals manufacturer founded in 1967, specializing in electronic materials for semiconductor and display fabrication, as well as chemical foaming agents. The company produces photoresists (including EUV, ArF, and KrF variants), bottom anti-reflective coatings (BARC), CMP slurries, hardmasks, precursors, etchants, strippers, color resists, and organic insulating layers for LCD/OLED displays. Dongjin was the first Korean company (and fourth globally) to develop semiconductor photoresist in 1989, and in December 2022 became the first Korean supplier to achieve mass production qualification of EUV photoresist at Samsung Electronics — a milestone achieved three years after Japan's 2019 export controls exposed critical supply chain vulnerabilities. The company also holds world #1 market share in KrF photoresist for 3D NAND flash memory and organic insulating layer materials for displays, and operates a 15-year technology partnership with IMEC (Belgium).

Dongjin Semichem generates revenue through direct B2B sales of materials to semiconductor fab operators and display panel manufacturers under negotiated, volume-based contracts, supported by technical sales engineers who manage multi-year product qualification cycles. Primary customers include Samsung Electronics, with structural entrenchment via the DSM Semichem joint venture (70% Dongjin, 20% Samsung C&T, 10% MMLP) for high-purity sulfuric acid supply into Samsung's US operations. The company operates manufacturing in South Korea (Hwaseong, Eumseong), the United States (Plainview, Texas via JV), and Sweden (Skellefteå, lithium-ion battery slurry), with FY2024 consolidated revenue of approximately KRW 2.0 trillion (~$1.4B USD). In 2025 the company announced a portfolio restructuring: spinning off the foaming agents business (to form Dongjin Inochem) and divesting nine Chinese subsidiaries as discontinued operations, concentrating the surviving entity on high-value electronic materials and renewable energy materials (fuel cell MEA, lithium-ion battery materials).

Name

Dongjin Semichem

Legal name

주식회사 동진쎄미켐 (DONGJIN SEMICHEM CO LTD)

Website

https://dongjin.com

Company type

Public

Founded year

1967

Operating status

Operating

Headcount range

51–100 employees

Short description

Dongjin Semichem is a Korean fine chemicals manufacturer (KRX: 005830) producing photoresists, anti-reflective coatings, CMP slurries, and display materials for semiconductor and display fabs, including the first domestically qualified EUV photoresist supplied to Samsung Electronics.

Ownership category

akta.pro rank

Product category

Electronic Materials (Semiconductor & Display)

NAICS

Semiconductor and Other Electronic Component Manufacturing (3344), Semiconductor and Other Electronic Component Manufacturing (33441)

SIC

Semiconductors & Related Devices (3674), Miscellaneous Chemical Products (2890)

akta.pro primary industry

Photoresists & Lithography Materials (Resists, Developers, Strippers) (IMAEAKAB)

akta.pro secondary industries

Display & Optoelectronics Chemicals (OLED/LCD materials, polarizer chemicals) (IMAEAKAN), Dielectrics & Insulating Materials Chemicals (Low-k/High-k precursors) (IMAEAKAJ)

Keywords

• Semiconductor photoresist materials
• Display fabrication chemicals
• Chemical foaming agents
• Electronic materials manufacturing
• Precision chemical materials

Headquarters

HQ city

Mapo

HQ country

South Korea

HQ region

Asia

Offices12 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Electronic Materials (Semiconductor & Display): Revenue from sales of photoresists, anti-reflective coatings, CMP slurries, etchants, strippers, color resists, and other process chemicals used in semiconductor and display manufacturing. Products sold directly to major manufacturers like Samsung Electronics. Includes EUV PR, ArF PR, KrF PR, and specialty chemicals.
2. Foaming Agents: Chemical foaming agents and microcapsule foaming agents for various industrial applications. Historical core business segment with global No. 9 market position.
3. Renewable Energy Materials: Fuel cell MEA (Membrane Electrode Assembly) and materials for secondary batteries (lithium-ion). Emerging growth area.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Dongjin Semichem manufactures and supplies precision electronic materials for semiconductor and display fabrication — including photoresists (EUV, ArF, KrF), Bottom Anti-Reflective Coatings (BARC), CMP slurries, etchants, strippers, hardmasks, and precursors — as well as display materials (organic insulating layers, color resists, background electrode materials), chemical foaming agents, and renewable energy materials (fuel cell MEA and lithium-ion battery slurry). It sells primarily to fab operators and display panel makers through direct enterprise relationships, with Samsung Electronics as the flagship customer for advanced EUV PR.

Product overview

Dongjin Semichem is a Korean fine chemical materials company offering a diversified portfolio of electronic materials and foaming agents. The company operates across four main business segments: (1) Foaming Agents (chemical and microcapsule types, ranked 9th globally), (2) Display Materials (photoresist, stripper, etchant, color resist, and encapsulation materials for LCD/OLED), (3) Semiconductor Materials (EUV photoresist, CMP slurry, BARC, hardmask, and precursors for advanced chip manufacturing), and (4) Renewable Energy Materials (fuel cell MEA and lithium-ion battery materials). The company also maintains an R&D division focused on functional coatings, OLED encapsulation, and next-generation energy materials. The EUV photoresist product represents their most advanced semiconductor offering, successfully commercialized for Samsung's manufacturing lines.

Differentiator

Problem solved

Functional benefit

Brands

• DNT Project: A specialized project under Dongjin Semichem focused on advanced materials development, with its own website at dongjindnt.com
• DSM Semichem (DSM쎄미켐)

Products and services

• EUV Photoresist (PR)
• Semiconductor Materials (Photoresist, Thinner, CMP Slurry, BARC, Hardmask, Precursor, Melamine Mold Cleaner)
• Display Materials (Organic Insulating Layer, Photoresist, Stripper, Etchant, Color Resist, Background Electrode)
• Foaming Agents (Chemical and Microcapsule)
• Renewable Energy Materials (Fuel Cell MEA, Lithium-ion Battery Materials)
• High-Purity Sulfuric Acid (via DSM Semichem JV)
• High-Hardness Inorganic-Organic Hybrid Electrode Coating (ITO Replacement)

Quantifiable outcome

• Production productivity improvement of 15-20% achievable through 4-mask photoresist process
• +3 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Four partnerships are on record, tiered minor and core.

• Korea Disabled Persons Employment AgencyminorOthers · 12 June 2024Agreement signed April 8, 2024 to establish a subsidiary-type standard workplace for disabled persons. The partnership aims to create quality jobs for severely disabled individuals across various job categories including confectionery/bakery and other occupational development.
• DSM Semichem (Joint Venture)coreStrategic or Co-development Partner · 1 September 2022Joint venture between Dongjin Semichem (70% stake), Samsung C&T, and MMLP (Martin Midstream Partners) for manufacturing high-purity sulfuric acid for semiconductors in the USA. Dongjin handles factory construction, production, and operations. Samsung C&T's trading division handles sales and marketing. MMLP supplies raw materials. The JV completed a sulfuric acid factory in Plainview, Texas in July 2024 with KRW 1.4 trillion investment and 24,000 ton/year capacity.
• IMEC (Belgium)coreTechnology or Integration · 1 January 202015-year technology partnership with IMEC, the world-renowned Belgian semiconductor research institute. CEO Lee Jun-hyuk visited IMEC headquarters in January 2020 to strengthen cooperation on EUV, OLED, and next-generation display technologies. IMEC CEO Luc Van den hove presented a commemorative plaque recognizing the partnership. Dongjin Semichem sends employees to IMEC facilities for research using EUV exposure equipment.
• Samsung ElectronicscoreChannel Partner/ Reseller/ DistributorPrimary customer for semiconductor materials including EUV photoresist. Samsung Electronics introduced Dongjin Semichem's EUV PR in mass production at Hwaseong campus in December 2022. Long-standing customer for photoresists and other semiconductor process chemicals.

Scale indicators11 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Merck Electronics (Versum Materials): Global electronic materials supplier (acquired Versum Materials) offering photoresists, CMP slurries, and specialty gases for semiconductor manufacturing. Broad incumbent peer to Dongjin's semiconductor materials portfolio.
• Shin-Etsu Chemical: Global chemical and semiconductor materials conglomerate with leading share in photoresists, silicon wafers, and rare earth magnets. A key incumbent competitor in advanced lithography chemistry and a benchmark for Dongjin's strategic positioning.
• JSR Corporation: Japanese photoresist leader and the dominant global supplier of EUV photoresists. Direct competitor to Dongjin's core semiconductor lithography materials business, with broader product scope including display materials and polymers.
• Sumitomo Chemical: Japanese diversified chemical company with significant semiconductor materials and display materials businesses, including photoresists. Competes with Dongjin in semiconductor and display chemistry across multiple product lines.
• Fujifilm Electronic Materials: Division of Fujifilm supplying photoresists, CMP slurries, and other electronic chemicals to semiconductor manufacturers. Overlaps with Dongjin's semiconductor photoresist and CMP slurry portfolio.
• Resonac Holdings (formerly Showa Denko / Hitachi Chemical):

Direct peers

• SK enpulse (formerly SK Materials Performance): Korean semiconductor materials specialist developing EUV photoresists and other advanced process materials. Direct domestic competitor to Dongjin for Samsung's EUV PR supply and broader Korean semiconductor materials localization.
• Tokyo Ohka Kogyo (TOK): Japanese specialty chemical company and one of the top three global photoresist suppliers alongside JSR and Shin-Etsu. Competes directly with Dongjin in semiconductor photoresists (ArF, KrF, EUV) and display materials.

Emerging players

• Youngchang Chemical: Korean chemical company also developing EUV photoresist to qualify with Samsung. Competes directly with Dongjin for Samsung's EUV PR adoption and other advanced lithography chemistry.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries14 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 Dongjin Semichem