On November 18, 2025, Hanmi Semiconductor announced that it had signed a supply contract for HBM manufacturing equipment with SK Hynix, valued at 1.5 billion KRW. Although the equipment in question is not the key HBM manufacturing device, the "TC bonder," and the contract amount is relatively small, this move indicates a significant repair in the relationship between the two companies. Previously, in May 2024, SK Hynix had ordered TC bonders from both Hanmi Semiconductor and Hanwha Semitech but did not place orders for other HBM devices with these two companies. This strategic adjustment had caused dissatisfaction for Hanmi Semiconductor, but the signing of this contract shows that both parties are rebuilding trust.

Background of Cooperation: Competition and Opportunity in the HBM Market

High Bandwidth Memory (HBM) is a core component in the fields of artificial intelligence and high-performance computing, with its market demand continuously growing. SK Hynix holds a dominant position in the HBM market, with a market share of over 50%, and is the main HBM supplier for Nvidia's high-end AI GPUs. With the advent of the HBM4 era, SK Hynix has completed development first and has sent samples to customers, planning to start mass production in the second half of 2025. This timing perfectly aligns with the release plan of Nvidia's next-generation Rubin GPU, helping it to solidify its existing supplier status.

Deepening of Cooperation: Multi-supplier Model and Market Expansion

In recent years, SK Hynix has begun to implement a multi-supplier strategy to enhance the stability and security of its supply chain. This strategy has led to some changes in the cooperative relationship between Hanmi Semiconductor and SK Hynix. Despite this, Hanmi Semiconductor remains one of the important suppliers for SK Hynix. In 2025, SK Hynix plans to place additional orders for 60 to 80 TC bonder devices in the second half of the year for the production of high bandwidth memory. Hanmi Semiconductor and Hanwha Semitech will fiercely compete for these orders.

Hanmi Semiconductor is also actively expanding into other markets to reduce its dependence on SK Hynix. In 2024, Hanmi Semiconductor successfully added Micron to its customer list and obtained a large number of TC bonder orders. In addition, Hanmi Semiconductor has also begun to supply equipment to Chinese semiconductor companies. Although the scale is not large, this move demonstrates its market diversification strategy.

Technology and Market Outlook

With the HBM4 chips that SK Hynix supplies to Nvidia set to begin mass production in 2026, the demand for HBM manufacturing equipment is expected to further increase. Hanmi Semiconductor has already launched the high-performance equipment "TC bonder" specifically for HBM4 production and has established a mass production system. This equipment can achieve high production efficiency and high quality in high-precision stacking processes of more than 16 layers.

However, Micron has encountered design issues in the supply of HBM4 chips, which may delay its supply until 2027. This makes the orders from SK Hynix even more important for Hanmi Semiconductor. Although SK Hynix is trying to introduce more suppliers, Hanmi Semiconductor, with its advantage in high-layer stacking technology, will still hold an important position in the future market.

The reconciliation between Hanmi Semiconductor and SK Hynix not only marks the improvement of their relationship but also reflects the new trend in the semiconductor industry of seeking cooperation amid competition. In the future, as HBM technology continues to develop and market demand keeps growing, the cooperation between Hanmi Semiconductor and SK Hynix is expected to deepen further. This will not only drive the innovation and application of HBM technology but also inject new momentum into the development of the global semiconductor industry.

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