Simmtech (222800)
심텍 · KOSDAQ · Package substrates for memory
KOSDAQ · Price as of · Naver Finance · Converted at ₩1344 per dollar
- Code222800
- ExchangeKOSDAQ
- Korean name심텍
- Quoted inKorean won
- US listingNone
- Run byJeon Young-sun and Kim Young-gu
- Analysts7
- Implied upside+42.7%
- Target range₩150,000 to ₩250,000
- Target in dollars$137.09
Reported fundamentals
There is no stock score on this page. The score is computed from audited XBRL filings on SEC EDGAR and includes a 20-point insider component built from Form 4s, and a Korean company files neither, so a grade here would be measuring something different from the same letter on a US hub. These are the reported figures instead.
| Revenue | ₩1.4T ($1.0B) | +14.5% against the prior year |
| Net income | ₩-164.2B ($-122.1M) | -11.6% net margin |
| Capital spending | ₩56.4B | 4.0% of revenue |
| Shares outstanding | 37,333,952 | +17.2% 2022 to 2025, dilution |
| Cash | ₩91.1B ($67.7M) | Current ratio 1.0 |
| Total debt | ₩738.4B ($549.3M) | Debt to equity 113.6 |
| Forward P/E | 16.1 | On analyst estimates, not on reported earnings |
Simmtech closed at ₩117,200 on Oct 27, down 20.9% since Sep 22. Daily closes on the KOSDAQ, in won. Source: Yahoo Finance.
What Simmtech does
Simmtech makes the substrates that memory chips are packaged on. Every DRAM module and every memory package sits on one, and the substrate carries the connections between the silicon and the board it plugs into. The company's customers are the memory makers, which puts it one step down the same chain as Samsung and SK Hynix.
Stacked memory changed what those substrates have to do. A high bandwidth memory package has far more connections in the same area than a conventional module, and the substrate under it has to be built to a tighter specification. That shift is the reason a substrate maker gets discussed as an AI supplier at all. It is also a commodity business at heart, with pricing that moves against the memory cycle, so the AI mix does not insulate it from a downturn in ordinary memory.
Simmtech is run by Jeon Young-sun and Kim Young-gu (전영선, 김영구), Joint representative directors.
Simmtech has no US listing. Buying the shares means buying the Seoul line, which most US brokerage accounts cannot do directly.
Simmtech coverage
Samsung Electro-Mechanics (009150) lands $267 million memory substrate deal. Kiwoom ties 84% of Daeduck's sales and 72% of Simmtech's to the same substrates.
The customer stays secret through 2027. Korean brokers say the deal shows the substrate shortage has moved from AI chips to memory chips.
Simmtech makes 70% of the boards under Nvidia's new memory modules. The stock rose 12.6% after Nvidia's earnings.
Simmtech, a substrate maker from Cheongju, closed up 12.60% after Nvidia's results and is up 27.3% in a week. It makes about 70% of the substrates for SOCAMM, the memory module in Nvidia's AI servers.
Micron (MU) is down nearly 15% on fears of a 2029 memory glut. Chip suppliers report shortages now.
The glut forecasts look to 2028 and 2029. This week, Samsung Electro-Mechanics, Nvidia, Lam Research, and a Minnesota chipmaker described shortages of substrates, parts, and helium happening today.
Samsung Electro-Mechanics (009150) plans $5 billion substrate expansion
Samsung Electro-Mechanics will spend 6.78 trillion won ($4.98 billion) on new chip substrate lines in Korea and Vietnam. Korean reports name the customer paying the largest share in advance.
China's Pony.ai (PONY) is bringing 200 driverless taxis to Seoul. Its Korean partner PonyLink rose 26% in a week.
China's Pony.ai and Korean operator FutureLink signed a deal on August 28 to put 200 Level 4 robotaxis on Korean roads by 2028. FutureLink's KOSDAQ-listed parent PonyLink rose 26% in a week.
What is a Korean theme stock? A lighting company just became Korea's hottest chip trade.
Kumho Electric has no announced semiconductor business. Its shares rose more than tenfold in two months anyway. How Korean theme stocks, or temaju, turn a name into a rally.
Other Korean AI listings
| Company | Code | Board | What it makes |
|---|---|---|---|
| SK Hynix | 000660 | KOSPI | HBM memory for AI accelerators |
| Samsung Electronics | 005930 | KOSPI | Memory, foundry and the broader electronics business |
| Hanmi Semiconductor | 042700 | KOSPI | Thermal compression bonders for HBM stacking |
| HPSP | 403870 | KOSDAQ | High-pressure annealing equipment |
| Wonik IPS | 240810 | KOSDAQ | Deposition and etch equipment for memory |
| Leeno Industrial | 058470 | KOSDAQ | Test probes and probe cards |
| Samsung Electro-Mechanics | 009150 | KOSPI | FC-BGA package substrates and MLCCs |
| Naver | 035420 | KOSPI | Korea's search platform and HyperCLOVA X |
| LG Innotek | 011070 | KOSPI | Camera modules and package substrates |
| Techwing | 089030 | KOSDAQ | Memory test handlers |
| Hana Micron | 067310 | KOSDAQ | Semiconductor packaging and test |
| ISC | 095340 | KOSDAQ | Test sockets |
| Jusung Engineering | 036930 | KOSDAQ | Atomic layer deposition equipment |
| Soulbrain | 357780 | KOSDAQ | Process chemicals for chipmaking |
| Samsung SDS | 018260 | KOSPI | IT services, cloud and data centers |
| SK Square | 402340 | KOSPI | Holding company whose main asset is SK Hynix |
| Kakao | 035720 | KOSPI | Messaging platform building consumer AI |
| HD Hyundai Electric | 267260 | KOSPI | Transformers and switchgear |
| LS Electric | 010120 | KOSPI | Power distribution and automation |
| Hyosung Heavy Industries | 298040 | KOSPI | Transformers and heavy electrical equipment |
| Doosan Enerbility | 034020 | KOSPI | Power plant equipment, turbines and nuclear components |
| Sam-A Aluminium | 006110 | KOSPI | Aluminum foil for energy-storage and secondary batteries |
Frequently asked questions
What is Simmtech's stock code?
Simmtech trades on the KOSDAQ in Seoul under the code 222800. Data providers usually write it as 222800.KQ. The company has no US listing, so the Seoul line is the only place the shares trade.
Why is Simmtech an AI stock?
Simmtech makes the substrates that memory chips are packaged on. Every DRAM module and every memory package sits on one, and the substrate carries the connections between the silicon and the board it plugs into. The company's customers are the memory makers, which puts it one step down the same chain as Samsung and SK Hynix.
What do analysts expect for Simmtech?
7 analysts covering Simmtech have an average price target of ₩184,286 (about $137.09), which is +42.7% against the last close. Coverage of Korean listings is overwhelmingly domestic, so these are Korean brokerage estimates rather than the US sell-side names that cover an American chip stock.
Does Simmtech file with the SEC?
No. Simmtech is a Korean company listed in Seoul, so it reports to the Korea Exchange and the Financial Supervisory Service, not the SEC. That is why this page has no filings, Form 4 insider or congressional trading sections: those are built from EDGAR, which has nothing on a company that does not file there.