SKC (011790.KS) is executing a 401.1 billion won ($289.7 million) rights offering for Absolics, its subsidiary focused on glass substrates for next-generation semiconductor packaging. The proceeds will fund product evaluation and customer certification, with part of the money allocated to facility and equipment upgrades to improve production yields and quality. Absolics is pursuing embedding and non-embedding products in parallel. Embedding substrates place passive components such as multilayer ceramic capacitors directly inside the glass, while non-embedding products position them separately on the surface. Samples of the embedding product made at Absolics' Georgia plant have completed preliminary electrical evaluations and entered reliability testing. The non-embedding product is being prepared for proof-of-concept testing by year-end if the related project selects suppliers in the second half of this year. SKC owns 70.05% of Absolics and Applied Materials (AMAT) owns 29.95%. Absolics was established in 2021 and operates from the United States to develop glass substrates for high-performance computing semiconductors. The capital raise underscores SKC's commitment to a business viewed as a potential growth driver as glass gains attention for AI, data-center and high-performance computing chips.